Century Ent. losses double to €5.5m, eyes PAGCOR venture for recovery
Century Entertainment International Holdings has reported a significantly widened net loss of HK$45.7 million (€5.5 million) for the financial year ending 31 March 2025, nearly doubling the HK$24.2 million (€2.9 million) loss recorded the previous year.
The firm, which operates VIP gaming tables at a 바카라 facility in Dara Sakor, Cambodia, has been struggling to revive its operations since relocating in recent years. In a sign of its worsening position, no revenue was recorded for the second consecutive year, in both 2024 and 2025.
Auditors raise doubts on company’s future
The company’s annual results were on 26 June 2025. The update came shortly after the firm halted trading in its shares on 26 June 2025, ahead of the market opening. Auditors flagged material uncertainties regarding the firm’s ability to continue as a going concern. Its net liabilities surged to HK$125.5 million (€15 million), up from HK$79.8 million (€9.5 million) a year earlier.
The steep losses stemmed from rising costs of sales, financial expenses, and impairment losses on other receivables totalling HK$25.4 million (€3.1 million). Meanwhile, loss per share jumped to 35.67 HK cents, compared to 18.88 HK cents the previous year.
Century Entertainment is under severe liquidity pressure, with only HK$4.1 million (€489,000) in cash and cash equivalents. This is overshadowed by net current liabilities of HK$102.6 million (€12.3 million).
Compounding matters, the firm has been in default on HK$30 million (€3.6 million) in loans from an independent lender since 2020. Net cash outflows from operating activities totaled HK$23.9 million (approximately €2.9 million) for the year. Due to a lack of sufficient evidence backing management’s financial forecasts, auditors issued a disclaimer opinion, expressing significant doubt over the company’s ability to remain solvent without further support or restructuring.
PAGCOR pact signed as doubts linger
Despite its financial woes, the company announced the signing of a non-binding Memorandum of Understanding (MoU) on 10 June 2025 to form a joint venture with a PAGCOR-licensed gaming operator in the Philippines.
Under the proposed agreement, Century would hold a 51 percent stake, offering technical support and market access, while the Philippine partner would provide gaming platform technology and intellectual property.
The venture is seen as a potential lifeline, offering new revenue prospects and a foothold in a more active regional gaming market. However, with the deal still at the discussion stage and no clear funding plan in place, the outcome remains uncertain.
Century is widely expected to pursue capital raising or debt restructuring efforts in the months ahead as it works to stabilise its financial position.
