Century Entertainment forms JV with PAGCOR to enter Philippine
Century Entertainment International Holdings has announced plans to form a joint venture (JV) with Philippine Amusement and Gaming Corporation (PAGCOR), licensed gaming system service provider in the Philippines, aiming to grow its footprint in Asia’s rapidly expanding gaming sector. The company, which operates VIP gaming rooms in Dara Sakor, Cambodia, with the Hong Kong Stock Exchange on Tuesday.
Majority stake held by Century
The joint venture will be registered as a limited liability company in Hong Kong. Century Entertainment will hold a 51 percent equity interest, while the Philippine partner will retain the remaining 49 percent. The agreement, currently outlined in a non-binding memorandum of understanding (MOU), states that both companies will finalise the joint venture agreement and operational framework within the next 30 days.
The board of directors for the new JV will include five members — three appointed by Century Entertainment and two by the Philippine partner.
Century to provide platform support
Under the MOU, Century Entertainment will provide technical and business infrastructure, including platform maintenance, research and development support, market access through distribution channels, marketing services, and administrative functions such as legal compliance, finance, and human resources.
The JV partner, which is licensed by the PAGCOR, will contribute its proprietary gaming system, including content, software, source code, and associated intellectual property rights.
Revenue generated by the gaming platform will be shared in proportion to equity interests, based on gross gaming revenue (GGR). Additional revenue details, including those from third-party platforms, will be confirmed in the final JV agreement.
Expansion move into Philippines’ booming gaming market
This venture signals Century Entertainment’s move beyond its current Cambodia operations into the dynamic Philippine gaming market. The Philippines has seen consistent growth in online and land-based gaming under PAGCOR’s regulatory oversight.
While the MOU outlines key terms, it is not legally binding apart from clauses on confidentiality and governing law. The formation of the joint venture remains subject to the successful execution of a definitive agreement.
Not a notifiable transaction yet, says Company
Century Entertainment clarified that the proposed JV does not currently constitute a notifiable transaction under Chapter 14 of the Hong Kong Listing Rules due to the non-binding nature of the MOU. The company will issue further announcements in accordance with listing regulations if and when a binding agreement is signed or if there are significant updates.
