Century Entertainment Secures Shareholder Approval for Cambodian VIP Rooms

In a decisive step forward for its gaming ventures, Century Entertainment International Holdings Limited has secured shareholder approval for a significant casino agreement in Cambodia. During the Special General Meeting (SGM) held on September 30th, the company’s shareholders overwhelmingly backed the lease and operation agreement between Century Entertainment’s subsidiary, Wisdom Ocean Group Limited, and LongBay Entertainment. This agreement focuses on VIP rooms located in Dara Sakor, Cambodia, and will span the next three years.

Century Entertainment Chairman Frank Schuengel, a veteran in the online gambling industry, noted the importance of this agreement for the company’s strategy in enhancing its presence in the lucrative high-roller market in Asia. The VIP gaming rooms are a crucial element of this strategy, capturing a significant portion of revenue from high-net-worth individuals.

The shareholder vote was exceptionally one-sided, with 99.99 percent of the 128,247,561 eligible shares voting in favor of the casino agreement. Only a minuscule 0.01 percent opposed it, highlighting strong investor confidence in the company’s direction. This robust endorsement allows Century Entertainment’s directors to move forward with executing the Casino Agreement, underscoring its potential to significantly impact the company’s gaming revenues and operational approach in the coming years.

The approved VIP room deal is in line with broader industry trends across Asia, where the demand for exclusive and high-stakes gambling experiences drives the market. By securing this lease, Century Entertainment ensures a consistent stream of business from VIP clients, pivotal for sustaining casino operations across regions like Macau and Southeast Asia.

This development reflects Century Entertainment’s ongoing commitment to capitalizing on growth opportunities in the high-end gaming sector, fortifying its position as a competitive player in the global casino industry.