• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Wednesday 2 July 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
No Result
View All Result

Chairman and CEO Ng Man Sun to become controlling shareholder in Century Entertainment after capital reorganization

Newsdesk by Newsdesk
Sat 2 Jan 2021 at 05:50
Cambodia signs long-awaited casino bill into law
51
SHARES
1.3k
VIEWS
Print Friendly, PDF & Email

Century Entertainment International Holdings Ltd, the Hong Kong based gaming investor formerly known as Amax International, has announced a capital reorganization and increase in share capital that will see its Chairman, Ng Man Sun, become controlling shareholder.

Under the plan, Century Entertainment would see its share capital of HK$400 million worth of shares at HK$0.20 per share consolidated and reduced to become HK$4 million worth of shares at HK$0.01 per share. It would then increase the share capital of the company to HK$200 million worth of shares by the creation of 19.6 billion new shares priced at HK$0.01 per share.

In a filing, the company said it has subsequently reached an agreement with its Chairman and CEO to settle indebtedness of HK$71,271,758 by issuing HK$50 million worth of new shares to him, plus HK$21,271,758 in cash. Such an agreement would see Ng’s shareholding in the company increase from 27.74% currently to 59.40% after completion, and public shareholdings fall from 51.54% to 28.96%.

Century Entertainment, which has various agreements to operate VIP gaming tables in Cambodia, said the consolidation of current shares, issuance of new and subscription agreement with Ng would help the company reduce its current HK$81.3 million of debt.

“Taking into account, among other things, the financial position and expected operating cash flow to be generated by the Group, and given the prevailing market prices and trading volume of the Shares and the net current liabilities position of the Group, it may not be favourable to have a fund raising exercise for substantial amount by way of issue of new Shares to independent third party(ies) or to existing Shareholders on a pro rata basis (e.g. rights issue and open offer) where considerable discount to the market prices of the Shares would be required,” it said.

“After the Company’s enquiry of certain brokerage houses with no favourable responses, the Company has decided to negotiate with the Subscriber on the proposed settlement plan of the Indebted Amount. As a result of the negotiations, the Company and the Subscriber agreed to settle part of the Indebted Amount principally through the entering into the Subscription Agreement.”

Century Entertainment is currently in the process of transferring a VIP gaming room from Sihanoukville to Dara Sakor – a controversial Chinese-backed investment zone covering 360 square kilometers on the Cambodian coastline – where it plans to operate gaming tables under a deal it previously signed with Ng, who owns the casino in question.

RelatedPosts

Cambodia’s Hun Sen expected to hand over to son Hun Manet after maintaining power in controversial election

Exiled Cambodian opposition leader alleges Hun Sen’s Thailand fight sparked by fear of losing casino, scam-based revenue streams

Sun 29 Jun 2025 at 17:49
Far East given green light to spin-off and list Czech casino business on Hong Kong Stock Exchange

Hong Kong listed Palasino reports slight increase in revenue, profit in FY25 thanks to growing slot machine count

Fri 27 Jun 2025 at 06:13
Foreign tourists among those banned by Thailand from travelling to Cambodia to gamble

Foreign tourists among those banned by Thailand from travelling to Cambodia to gamble

Tue 24 Jun 2025 at 06:02
Donaco pays down US$8.5 million in debt as part of loan refinancing deal

Independent expert gives green light to shareholder plan to acquire Southeast Asian casino operator Donaco

Sun 22 Jun 2025 at 17:37
Load More
Tags: Cambodiacapital reorganizationCentury Entertainment International HoldingsHong KongNg Man SunVIP gaming
Share20Share4
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

Apollo completes acquisition of IGT gaming and digital businesses and Everi, new entity to trade under IGT name

Apollo completes acquisition of IGT gaming and digital businesses and Everi, new entity to trade under IGT name

by Ben Blaschke
Wed 2 Jul 2025 at 06:28

Asset management giant Apollo announced overnight that it has completed the acquisition of FinTech firm Everi Holdings and the Gaming and Digital businesses of International Game Technology (IGT). The two companies will be combined into a single enterprise operating under...

Aristocrat Gaming awarded license to develop MONOPOLY slot games globally

Aristocrat Gaming awarded license to develop MONOPOLY slot games globally

by Newsdesk
Wed 2 Jul 2025 at 06:21

Aristocrat Gaming has been granted the rights to develop MONOPOLY-branded slot games following the completion of a competitive RFP process, the company has revealed. The multi-year partnership with board game giant owner of the MONOPOLY brand Hasbro will come into...

Macau Legend says no concerns over ability to continue after reaching agreement with lenders to defer HK$2.1 billion in looming repayments

Macau Legend says no concerns over ability to continue after reaching agreement with lenders to defer HK$2.1 billion in looming repayments

by Ben Blaschke
Wed 2 Jul 2025 at 06:19

Macau Legend Development Ltd, owner and operator of Legend Palace and the Macau Fisherman’s Wharf precinct, says it has reached an agreement with lenders to defer payments on loans amounting to almost HK$2.1 billion (US$268 million) until late 2026, as...

Macau GGR comes in at MOP$18.9 billion in April, up 1.7% year-on-year

JP Morgan: Macau GGR surge seemingly sparked by direct VIP, ultra-premium mass gaming customers

by Ben Blaschke
Tue 1 Jul 2025 at 18:15

The unexpected resurgence of Macau gaming revenues over the past two months, which culminated in June GGR smashing consensus at 19% year-on-year growth, appears to have been supported by the performance of the high-end gaming segments, according to investment bank...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English