Asian casino and entertainments firm, Amax International Holdings Limited, has reportedly announced a plan that would see it change its name to Century Entertainment International Holdings Limited.
According to a report from GGRAsia, the Hong Kong-listed enterprise used an official filing to declare that the proposed rebranding will allow it to ‘refresh the corporate image and identity of the company’ in order to ‘more appropriately describe the version of the group’ and better comply with ‘the interest of the company and its shareholders as a whole.’
March reportedly saw Amax Internationa dispose of its remaining 24.8% stake in an entity that previously ran Macau’s now-shuttered Greek Mythology Casino while the Monday filing additionally detailed that its desired name-change will only become official after being approved by shareholders via an upcoming special general meeting.
GGRAsia reported that the previous year has not been kind to Amax Int’l as it recorded a net loss of approximately $53.32 million for the twelve months to the end of March, which compared to a deficit for the previous comparable period of just over $6.73 million. However, the firm purportedly later blamed most of its most recent shortfall on an around $45.09 million expense related to the disposal of its stake in the firm behind the almost 160,000 sq ft Greek Mythology Casino.
Amax reportedly sold its interest in the casino-operating Greek Mythology (Macau) Entertainment Group Corporation Limited enterprise to local property investments and consulting firm Fu Po International Limited for a minimal fee. This came following the 2016 shuttering of the casino’s Beijing Imperial Palace Hotel home amid a series of long-running disputes between two former business partners.