Hong Kong’s Century Entertainment International Holdings, formerly known as Amax International Holdings, is set to relocate gaming tables under its operation in Sihanoukville, Cambodia to a new location after the company’s Chairman and owner of the casino in question revealed it was relocating.
According to a Monday filing, Century Entertainment Chairman and CEO Ng Man Sun has informed the company that he would be moving his Cambodian casino operations from its current home at Sihanoukville’s Sunshine Bay Hotel after the landlord failed to agree to improved lease terms in the wake of recent COVID-19 closures.
Instead, the casino, operating under Ng’s wholly-owned Lion King Entertainment Company Limited, will relocate to the newly opened Ming Guan Hotel. The move comes only months after Century Entertainment signed a five-year deal with Lion King under which it was assigned Gaming Table Business Rights for five years at a total consideration of HK$120 million.
Ng, who was reportedly offered “comparatively more attractive terms” for the new location, has told Century Entertainment that the new location won’t impact the validity of the Gaming Table Business Rights agreement.
The new casino will fill the “entire block of hotel and facilities at a lower lease rate,” Century Entertainment said, adding, “Lion King has considered that it would be definitely beneficial to the business performance of the Casino in the long run and has decided to move the operation of the Casino from its existing location at Sunshine Bay Hotel to the potential new location.”
Ng has also sent Century Entertainment “on-site photos, videos and presentation regarding the new location for the company’s assessment.
“The Company noted that the Ming Guan Hotel is a newly constructed hotel comes with newly decorated casino venue ready for lease.”