Century Entertainment Cancels Cambodian Casino Contract
LISTEN TO THIS ARTICLE:A year ago, Century Entertainment signed a five-year deal to operate new table games at a casino in Dara Sakor, Cambodia, although it never fulfilled its objective. Now, the former Macau junket operator is backing away completely from the casino, but has indicated that it still sees a future in the country.
Unclear Future in Cambodia
The Hong Kong-listed gaming operator has terminated its agreement to install and manage eight gaming tables at a controversial casino in Dara Sakor, Cambodia. The termination, which was mutually agreed upon by the company and its subsidiary, Victor Mind Global Ltd (VMG), came into effect on December 31, 2023.
The agreement was originally signed in February 2023, but it never officially commenced due to the COVID-19 pandemic and delays in completing the implementation agreement. VMG, the entity directly responsible for the gaming operations, never paid a deposit to launch the project. There are no financial penalties for backing out.
The Dara Sakor casino project has been surrounded by controversy since its inception. The development, which is backed by Chinese investment, has been criticized for its environmental impact and its potential to fuel illegal activities.
Century Entertainment's exit also leaves the future of the casino in doubt. It was originally intended to cover 113,021 square feet and offer 40 mass gaming tables, 80 slot machines, 55 VIP tables and a Chinese restaurant, spa and nightclub. However, because of the ongoing issues, it may never reach its goal.
Seeking Alternative Plans
Century Entertainment isn't giving up on its plans to operate gaming tables in Cambodia. In a separate development, it revealed that it is in discussions with LongBay Entertainment Co., Ltd to lease and operate a VIP room at the Dara Sakor casino. LongBay Entertainment is a subsidiary of Zheng Heng Group, which faces allegations of human trafficking and fraud.
This latest move marks a shift in Century Entertainment's strategy in Cambodia. The company had implemented gaming operations at a casino controlled by Chairman and CEO Ng Man Sun in the Cambodian city of Sihanoukville, but relocated to Dara Sakor after Ng received a better offer.
Despite the challenges, Century Entertainment appears to be maintaining its presence in Cambodia. The company's negotiation with LongBay Entertainment for the VIP room suggests that it is still exploring options for growth in the country. However, the association with Zheng Heng Group raises concerns about the company's ethical standards and its potential involvement in illicit activities.
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