Century Entertainment warns of losses of A $ 40 million throughout the year

Hong Kong Century Entertainment International Holdings Limited, a video game investor formerly known as Amax, has issued a profit warning about expected losses of at least A $ 40 million (US $ 5 million) for the fiscal year ended March 31, 2021.

According to a dossier filed on Friday, the 2021 loss, which is similar to the loss of A $ 39.2 million reported 12 months earlier, is mainly due to the amortization of intangible assets in relation to the trading table. gambling and the loss of depreciation and impairment on intangible assets and goodwill in connection with the operation of AR / VR (augmented reality / virtual reality) applications for approximately A $ 13.6 million ( 1.8 million US dollars) and 26.5 million Australian dollars (3.4 million US dollars), respectively. “

The company’s reasoning refers to delays in the relaunch of mass board gaming operations at a new casino in Dara Sakor, Cambodia, following the news late last year that President and CEO Ng Man Sun he was relocating a casino he had in Sihanoukville and where Century Entertainment operates. some game tables: to a new location.

The new location is expected to cover a gross area of ​​10,500 square feet with 20 massive game tables, seven tables for nest-nest poker, 10 tables for baccarat, including the work of Century Entertainment, a table for blackjack, sic bo and poker, 25 VIP tables, 50 EGMs and a Chinese restaurant.

Century Entertainment is also involved in the development of “innovative intellectual properties and technology solutions” in connection with the development of mobile gaming applications, as well as virtual reality and virtual reality applications.

The company said its final results are expected to be released before the end of the month.

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