Hong Kong-listed Century Entertainment International Holdings said one of its subsidiaries had contracted to lease two VIP rooms to operate at a casino in Dara Sakor, Co Kong, Cambodia.
The two rooms have a floor area of about 650 square meters and have seven gaming tables, according to data filed on Friday by Century Entertainment.
Wisdom Ocean Group, a subsidiary of the company, will pay $35,000 for rent in a VIP room. The contract lasts for three years and takes effect from the date the contract is approved at Century Entertainment’s special assembly.
Century Entertainment is 100% entitled to the jackpot, will be responsible for the loss of its entire home, and will “burden employee costs and taxes related to these gaming businesses,” the filing stated.
The casino belongs to an enterprise called LongBay Entertainment Co., Ltd and is located at the LongBay Century Hotel (pictured).
The announced agreement follows the termination of a previous agreement involving Century Entertainment Chairman and Chief Executive Officer Ng Man-sun and Lion King Entertainment Limited, which was fully invested by Ng.
Century Entertainment said in a Friday filing that it had closed the original transaction because it was unable to “get all the underlying books and records for preparing an income statement for a verifiable net income stream,” regarding its gaming table business rights.
“To reopen the group’s gaming business, we have initiated negotiations with Long Bay Entertainment to rent VIP rooms directly from Long Bay Entertainment for operating the gaming business,” the Hong Kong-listed company added.
Century Entertainment said it plans to “operate baccarat on every game table in the VIP room.”
“The board of directors said that the casino contract was signed… We believe it will generate stable returns for the group and therefore improve our financial performance and financial position,” the company added.
BY: 카지노사이트 모음