Key Moments:
- Century Entertainment International Holdings confirmed the resignation of Fan, Chan & Co. Limited as auditor on 15 September, appointing Crowe (HK) CPA Limited in its place.
- The company is diversifying into new sectors such as premium camellia seed oil distribution to supplement its gaming business.
- Plans for a joint venture with PAGCOR include a 51 percent stake for Century Entertainment and a finalized agreement within the next 30 days.
Audit Oversight Shift Reflects Business Realignment
Century Entertainment International Holdings has transitioned to a new auditor, Crowe (HK) CPA Limited, following the resignation of Fan, Chan & Co. Limited effective 15 September. According to the company’s filing, the outgoing auditor reported no unresolved matters apart from previously disclosed concerns regarding the recoverability of certain receivables, as noted in the March 2025 audit report.
The board explained that the move takes into account factors such as business growth, development, and cost management. Crowe will oversee the audit process until the conclusion of the next annual general meeting, providing independent financial oversight as the group repositions its operations.
Diversification Strategy Targets New Revenue Streams
Facing shifting market dynamics in Asian gaming, Century Entertainment continues to expand beyond its core gaming operations. A new focus on sourcing and distributing premium camellia seed oil reflects the company’s drive to add stable, consumer-driven income streams. This strategic move aims to balance revenues and enhance business resilience against volatility in gaming earnings.
Emphasis on Growth, Cost Control, and Preparedness
The board highlighted that switching auditors aligns with its ongoing review of the company’s financial structure and business priorities. Century Entertainment’s transition is designed to support both established gaming activities and initiatives in emerging sectors. The change in audit firm forms part of a wider effort to ensure that oversight and reporting keep pace with the company’s expansion and efficiency goals.
Joint Venture Plans with PAGCOR
Century Entertainment recently outlined a plan to form a joint venture with the Philippine Amusement and Gaming Corporation (PAGCOR). Under the non-binding memorandum of understanding, the new limited liability company will be registered in Hong Kong, with Century Entertainment holding a 51 percent equity interest and the Philippine partner holding 49 percent.
The agreement projects that the operational framework and final joint venture agreement will be completed within the next 30 days. The new board will be composed of three directors appointed by Century Entertainment and two by the Philippine partner.
| Key Developments | Details |
|---|---|
| Auditor Change | Crowe (HK) CPA Limited replaces Fan, Chan & Co. Limited as auditor |
| Diversification | Entry into premium camellia seed oil distribution |
| Joint Venture | Planned with PAGCOR; Century Entertainment to hold 51% stake |
- Author
Daniel Williams
