• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Wednesday 25 May 2022
  • 中文中文
  • 日本語日本語
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Hong Kong’s Century Entertainment ceases Cambodian VIP room lease deal

Newsdesk by Newsdesk
Thu 28 May 2020 at 06:09
53
SHARES
1.1k
VIEWS
Print Friendly, PDF & Email

Hong Kong’s Century Entertainment International Holdings Limited, formerly known as Amax International Holdings, has terminated a lease deal with Cambodia’s Crown Resorts Co Ltd to operate a VIP room at Genting Crown Casino in Poipet, Cambodia.

The lease deal, which was due to expire in November, saw Century Entertainment run 13 VIP tables at Genting Crown for a monthly fee of between RMB500,000 (US$115,000) and RMB600,000 (US$138,000). The company had subsequently outsourced operation of the room to a third party operator it said at the time had previously run a room at Amax’s Greek Mythology casino in Macau between 2006 and 2011, and gaming operations in Singapore and Saipan.

On Wednesday, Century Entertainment said it has reached a mutual agreement with Crown Resorts Co Ltd – no relation to the Australian casino firm of the same name – to terminate the lease agreement from 1 June 2020, including full release from any current or future claims, costs or expenses.

The decision followed a directive by Cambodian Prime Minister Samdech Techo Hun Sen for all casinos in the country to close from 2 April 2020 to stop the spread of COVID-19 – an order that remains in place today.

“Having considered the License Agreement will expire on 30 November 2020 and also various factors affecting the resumption of the VIP room operation until the expiration of the License Agreement, the Company is of the view that the entering into of the Termination Agreement to early terminate the License Agreement without compensation is a favorable opportunity for the Company to minimize the Group’s cash outlay during the epidemic period as well as minimizing the impact of the Temporary Closure to the Group,” Century Entertainment said.

The company still operates four VIP tables at a property in Sihanoukville owned by its own Chairman and CEO, Ng Man Sun.

RelatedPosts

Hong Kong Airlines resuming flights to Seoul, Hanoi as travel restrictions relax around the world

Hong Kong Airlines resuming flights to Seoul, Hanoi as travel restrictions relax around the world

Wed 25 May 2022 at 05:59
Summit Ascent undergoes boardroom makeover as Suncity asserts control

Andrew Lo acquires former Chairman Alvin Chau’s stake in Suncity Group

Thu 19 May 2022 at 18:33
More than half of Macau’s premium mass player base to be impacted by China travel crackdown: Credit Suisse

More than half of Macau’s premium mass player base to be impacted by China travel crackdown: Credit Suisse

Tue 17 May 2022 at 18:37
China to strictly clamp down on outbound and cross-border gambling, banning citizens from outbound gambling to the greatest extent possible

China to strictly clamp down on outbound and cross-border gambling, banning citizens from outbound gambling to the greatest extent possible

Fri 13 May 2022 at 14:47
Load More
Tags: Amax International HoldingsCambodiaCentury Entertainment International HoldingsGenting Crown CasinoHong KongNg Man SunPoipetVIP
Share26Share3
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Oz Casinos: What now?

Editorial: Does the foreigner-only casino model work?

by Ben Blaschke
Thu 28 Apr 2022 at 15:28

The COVID-19 pandemic, along with the international border closures it forced, is one of a number of recent headwinds to...

Oz Casinos: What now?

Oz Casinos: What now?

by Ben Blaschke
Thu 28 Apr 2022 at 15:14

With three inquiries into Crown Resorts completed, a review into Star Entertainment Group underway and a litany of damning findings...

Off Track: AUSTRAC’s AML Failures

Off Track: AUSTRAC’s AML Failures

by Ben Blaschke
Thu 28 Apr 2022 at 13:16

Australia’s anti-money laundering watchdog has launched civil proceedings against Crown Resorts in what appears to be a reaction to its...

Locals Game

Locals Game

by Ben Blaschke
Thu 28 Apr 2022 at 13:05

IAG recently spoke with Shaun McCamley, former President at integrated resort The Grand Ho Tram Strip on Vietnam’s south-east coast,...

Related Posts

Off Track: AUSTRAC’s AML Failures

Victorian casino regulator reveals new restrictions on EGM play at Crown Melbourne

by Ben Blaschke
Wed 25 May 2022 at 15:48

The Victorian Gambling and Casino Control Commission (VGCCC) has announced new rules for electronic gaming machines (EGMs) at Crown Melbourne, aimed at reducing gambling harm. The key changes will see players banned from playing more than one machine at a...

Macau’s 2022 Forbes Travel Guide Five-Star Award Winners

Macau’s 2022 Forbes Travel Guide Five-Star Award Winners

by Alidad Tash
Wed 25 May 2022 at 06:49

 2NT8 and Inside Asian Gaming take a look at Macau’s 2022 Forbes Travel Guide Five-Star Award Winners.

Pacific puzzle

Imperial Pacific granted stay on license revocation hearing, looks to resume Saipan operations

by Newsdesk
Wed 25 May 2022 at 06:32

Saipan casino operator Imperial Pacific International (CNMI) LLC has been granted a temporary restraining order (TRO) by the US District Court for the NMI which will prevent a hearing into the possible revocation of its license from getting underway this...

Hong Kong Airlines resuming flights to Seoul, Hanoi as travel restrictions relax around the world

Hong Kong Airlines resuming flights to Seoul, Hanoi as travel restrictions relax around the world

by Newsdesk
Wed 25 May 2022 at 05:59

Mainland China and its two SARs might still be closed to the rest of the world, but that hasn’t stopped some businesses from joining the rest of the world in embracing recovery. Hong Kong Airlines announced this week that it...


Simple Play

IAG

© 2005-2022
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • Contributors
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Consulting
  • Magazines
  • Advertise
  • Contact
  • About
  • 中文
  • 日本語

© 2005-2022
Inside Asian Gaming.
All rights reserved.