Century Entertainment International Holdings Ltd., a Hong Kong-listed company known for its operations in Cambodia, has announced plans to venture into the Philippines’ expanding online gaming market. This move comes after Century Entertainment inked a Memorandum of Understanding (MOU) with a gaming system service provider licensed by the Philippine Amusement and Gaming Corporation (PAGCOR). The deal is aimed at developing and marketing a platform and content, marking a significant step for the company.

Establishing the joint venture:

The MOU details the formation of a joint venture in which Century Entertainment will hold a 51% equity stake, while its Filipino partner will control the remaining 49%. The joint venture, which will be established as a limited liability company in Hong Kong, will leverage Century’s market access, technical expertise, and business development resources.

The agreement outlines a plan to formalize the corporate structure, governance, and operational framework within 30 days. Century Entertainment will take on responsibilities such as providing technical support for research and development (R&D), ongoing platform maintenance, as well as offering administrative functions like financial management and legal compliance. In return, the Philippines-based partner will contribute its proprietary gaming system platform, content, software, source code, and related intellectual property.

This partnership represents a promising opportunity for Century Entertainment to expand its footprint beyond Cambodia, where the company operates VIP rooms at the Dara Sakor casino in Koh Kong province. According to GGRAsia, the Cambodian rooms have been in operation since October of the previous year under a three-year contract, with a combined area of around 650 square meters.

The Philippines gaming market is one of the most dynamic in the region, and this joint venture provides Century Entertainment with a direct pathway to tap into this lucrative space. As noted in the company’s announcement, profits and losses from the venture will be split according to equity shares, with the revenue being calculated based on the gross gaming income from the platforms. The joint venture will also assess potential revenue streams from third-party platforms, with details to be outlined in the formal agreement.

Ongoing developments:

Century Entertainment’s venture into the Philippines is timely, as the iGaming industry in the region continues to show strong growth. However, the company has also acknowledged that the MOU is not legally binding, and no assurance can be given that the joint venture will move forward as originally planned.

In addition to its upcoming Philippine operations, Century Entertainment is also in the process of expanding its presence in the gaming sector, having announced the resignation of its long-time chairman and CEO, Ng Man Sun, who has been a key figure in the company’s history as a Macau junket operator.

The joint venture is set to bring together Century Entertainment’s experience in the casino and gaming space with the innovative platform and content developed by its Filipino partner. If successful, the collaboration will create new business opportunities in both the Philippines and broader regional markets, solidifying Century Entertainment’s position in the global gaming sector.