Amax International Holdings Limited reported that its revenue fell by 54.3 percent from the same period in 2018 for the six-month period ending on September 30. The company’s total revenue for the period was approximately HK$28.5 million ($3.6 million), running from the beginning of April through the end of September, less than half of the revenue recorded at the end of September 2018 according to Calvinayre.com.
The decline in revenue was “mainly attributable to the decrease in revenue derived from the VIP room business in Cambodia.”
Amax currently operates a VIP room consisting of 13 baccarat tables operated by Amax’s wholly-owned subsidiary, Victor Mind Global Limited. This VIP room is located in Poipet’s Genting Crown Casino.
In a statement Amax International stated that it “sees attractive potential in the gaming market in [Sihanoukville] and is confident to the thriving development of this business.”
In October 2018, Amax signed an agreement to open a new Sihanoukville casino. Immediately after the six-month period in question, Amax signed an agreement in October to lease four gaming tables located in Sihanoukville, Cambodia’s Century Entertainment casino. This should help to bolster the numbers for the next six-month period.
Amax are also trying to change their name. They are naming their new brand Century Entertainment International Holdings in order to “refresh the corporate image and mark the Group’s new milestone of transformation for its future developments.”
As the group has become active in developing AR / VR entertainment and mobile device apps such as tablets and smartphones, this seems to be a more fitting name. They also provide customized IT support and design solutions that contributed $260,000 (HK$2 million) to the total revenue figure.