News Land-Based 1 July 2022
Century Entertainment announces a 71% drop in revenues for the 31 March year
Peter Lynch
Century Entertainment International Holdings had reported revenue for the year ended 31/03/2022 at HK$0.2m ($25,500), a 71% drop from the prior-year.
The Hong Kong-listed operator reported that the drop in revenues from HK$0.7m to 31 March 2021 was primarily due to Covid-19’s spread and the temporary suspension of all casino operations in Cambodia as of 1 April 2020.
The net loss in the 31 March 2022 year was HK$3.7m compared with HK$43m in the 31 March 2021 year.
The loss per share was HK$2.87 compared with the loss per share of HK$33.53 during the previous-year period. Finally, the group’s net liabilities amounted to HK$26.7m, compared to HK$23m for the year ended 31 March 2021.
The report also addressed the future. It noted that the complete recovery of global tourism to pre-pandemic levels was on track despite new pandemic strains.
“Despite the headwinds encountered in 2021, the company is confident that 2022 will mark a fresh start for its business,” a statement from Century Entertainment read. “Riding on the market recovery, the group will focus on improving its core competitiveness to facilitate long-term growth by paying continuous attention to the market trends and keeping a close monitor of the Covid-19 situation.
“With the hope of economic recovery and the assignment of the gaming tables, the group is dedicated to regaining its growth momentum by improving its business operations and seizing further market opportunities in the coming year.”
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