Amax International Holdings Limited said that their revenue for the six-month period which ended on September 30 fell by 54.3% from the same period of time in 2018. The company had a total revenue of about HK$28.5 million ($3.6 million) for the period, from the beginning of April through the end of September, less than half of the revenue which had been recorded at the end of September 2018.
The fall in revenue was “mainly attributable to the decrease in revenue derived from the VIP room business in Cambodia,” according to the company. Amax is currently managing a VIP room which consists of 13 baccarat tables operated through Victor Mind Global Limited, a subsidiary solely owned by Amax. This VIP room is situated at the Genting Crown Casino in Poipet.
The numbers are unsatisfactory at face value; however, there appears to be no panic at Amax International. The company explained in a statement, that it “sees attractive potential in the gaming market in [Sihanoukville] and is confident to the thriving development of this business.”
As informed on Calvinayre.com, in October 2018, Amax signed a deal to launch a new casino in Sihanoukville. In October, just after the six-month period in question, Amax signed a contract to lease four gaming tables which are located in the Century Entertainment casino in Sihanoukville, Cambodia. This should help to sustain the numbers for the forthcoming six-month period of time.
This region is rapidly becoming a very renowned tourist destination, surpassing Poipet as the go-to location for those searching for casinos or recreational activity within the region. This is why it seems that there is less worry about the fledgling numbers at the Poipet VIP room, as Amax has put a lot of confidence in their Sihanoukville facility, and with the four new gaming tables their optimism seems to be justified.
Currently Amax is in the midst of a name change too. The company is shifting to its new brand as Century Entertainment International Holdings Limited to “refresh the corporate image and mark the Group’s new milestone of transformation for its future developments.”
This seems to be a more appropriate name as the group has become busy in the development of AR/VR entertainment and apps for mobile devices like tablets and smartphones. Also, they are providing customized IT support and design solutions which added HK$2 million ($260,000) to the total revenue amount.