This took place after an unsuccessful negotiation with current Sihanoukville landlord for possibility to reduce the lease payment of casino
In response to the impact of COVID-19, the casino operated by Lion King Entertainment Company Limited, wholly-owned by Chairman and CEO Ng Man Sun of Century Entertainment, will relocate to the newly opened Ming Guan Hotel in order to obtain relatively more favorable lease terms.
A few months ago, Century Entertainment signed a five-year gaming table business agreement with Lion King to obtain five-year gaming table business rights for HK$120 million. Lion King’s Entertainment company failed to reach a rental reduction consensus with Sunshine Bay Hotel.
Ng told century Entertainment that “Lion King has considered that it would be definitely beneficial to the business performance of the Casino in the long run and has decided to move the operation of the Casino from its existing location at Sunshine Bay Hotel to the potential new location.”
It is reported that the Han Guan Co. Ltd. provided the casino with “relatively more favorable leasing conditions”, and told Century Entertainment that the new site will not affect the validity of the table management agreement.
Century Entertainment Ng Man Sun said: “Lion King can use the entire block and facilities of the hotel here to continue to operate the casino at a lower rental rate than the current one.”
“Lion King believes that this move will be beneficial to the business performance of the casino in the long run, so he decided to move the casino from the existing location of Sunshine Bay Hotel Hotel to a potential new location for operation.”