According to various news reports, including Cambodia news portal Cambodia Daily, Hong Kong-listed Century Entertainment will sign a new deal directly with a Cambodian casino owner in Dara Sakor, cancelling the previous deal with its own Chairman and CEO in operating VIP gaming tables.
According to the agreement terms, as quoted from said reports, Wisdom Ocean Group, a wholly owned subsidiary of Century Entertainment, will manage all seven tables at the Dara Sakor casino for an initial period of three years.
In exchange, Century Entertainment will pay LongBay Entertainment, the owner, a monthly fee of $35,000. Under this arrangement, Century Entertainment will retain 100% of the winnings and cover 100% of the house losses, in addition to bearing the costs of relevant staff.
LongBay Entertainment will assume responsibility for providing a valid gaming licence, as well as covering any operating expenses necessary for the casino's operation, including utilities fees, sanitation charges, air-conditioning charges and dealer expenses for the gaming tables.
The Dara Sakor casino in Cambodia will feature about 40 mass gaming tables, 55 VIP tables and 80 slot machines as well as a Chinese restaurant, spa and nightclub.
As per a previous report, Century Entertainment had planned to relocate its gaming table business from Sihanoukville to the new casino in Dara Sakor in February, but the opening date was postponed until March due to a rise in Covid-19 cases.
