Amax sees revenue for Apr-Sept drop 54.3pct y-on-y

Amax International Holdings Limited revenues for the six-month period finishing on September 30 of this year dropped 54.3 per cent year-on-year to about HK$28.5 million (US$3.6 million), due to poorer results from the group’s VIP room operations in Cambodia.

However, the group’s net losses still contracted 37.2 per cent to approximately HK$13.5 million, due to a decrease in general and administrative expenses and the loss on settlement of promissory notes.

The group headed by Ng Man Sun currently derives its revenue from a VIP Room with 13 baccarat tables in Cambodia operated via subsidiary Victor Mind Global Limited which contributed some HK$26.2 million in the period, and gaming operations in Vanuatu through Forenzia Enterprises Limited, which provided some HK$7 million.

In October Amax International Holdings Limited also signed two agreements with its chairman for the leasing of four gaming tables located at the mass market gaming area of the Century Entertainment casino in Sihanoukville, Cambodia, as the company also prepares to divest its investment in the gaming business in Vanuatu.

The group also has an arm in the development of AR/VR entertainment and apps on mobile devices platforms, while also providing customized IT and design solutions, a section of its business that contributed HK$2 million during this period.

The group has also proposed to change its English name to “Century Entertainment
International Holdings Limited”