Century Pertunjukan International Holdings Ltd., a Hong-Kong listed company, is hopeful that by September, its new gaming table business will begin in Cambodia. The company has plans to launch game in Dara Sakor, at a new kasino venue. The goal was to launch much earlier but various issues led to a terlambat.
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Detils of the table games business surfaced during a recent report regarding the company's financial results. The year ended on March 31 for the company and revenue reports showed a decrease in earnings by 72.5%.
Century Pertunjukan International Holdings Ltd only generated HK$200,000, equal to $25,500 in US currency. This was a huge turun when compared to 2021 totals when the operator earned HK$43 million, equal to $5.5 million.
During the report, the company announced that it still has operating rights for two table game at the Dara Sakor kasino in Cambodia. Unfortunately, conditions within the agreement have not been completed or waived as of Juni 30, 2022, for operations to begin.
The kasino connected to the setuju is operated by Ng Man Sun, the Chairman and CEO of Century Pertunjukan. It was opened in early November 2021. The kasino was first placed in Sichanoukville but was moved to Dara Sakor after a better offer was provided in regard to the kasino ruang.
This week, Century Pertunjukan reported that it is still positive about its business prospects when it comes to mass gaming tables. Century is sasaraning a September launch date with revenues earnings rolling in by the second half of the year.Concerns Over the Company Operations
The up-date regarding the table games operations comes as Century Pertunjukan faces financial difficulties. The company just recently reported that its auditor feels that there is uncertainty around the company's ability to continue functioning.
The FY22 results revealed Century Pertunjukan has net liabilities of HK$65.1 million, equal to $8.3 million USD. The liabilities have been impacted by the company's inability to start gaming table operations during the pandemi.
Century is currently working on several measures to address liquidity and financial concerns. New sources of financing are being raised for when they are needed, plus the CEO and Chairman has been asked to avoid permintaaning payment on convertible bonds worth HK$50 million ($6.4m) that are to be repaid by the end of September 2022.
