Century Entertainment issues profit warning after half year losses grow

| By Nosa Omoigui
Century Entertainment International Holdings has sent a profit warning to its shareholders after recording losses of HK$20.8m (£2.0m/€2.4m/$2.7m) for the six months to 30 September.
Century Entertainment sends profit warning to shareholders

The company’s losses increased 235.5% from the same period in 2020, when its half-year loss came to HK$6.2m

This was attributed to a lack of revenue from table games during the period, due to a delay in the re-opening of the New Casino at Dara Sakor caused by novel coronavirus (Covid-19) measures in Cambodia.

A fair value gain on promissory notes estimated to be worth HK$11m had been recognised for the period, and was also said to be a contributing factor.

The company stressed that all assessments made are only preliminary at this stage, as it is yet to finalise its results for the year. The numbers are subject to adjustment before the full results are released at the end of the month.

Century Entertainment felt the full force of the Covid-19 pandemic last year, recording a 98.4% drop in revenue for 2020.

Subscribe to the ICE365 newsletter