Former Junket Operator Century Entertainment Taps Into Philippine Gaming Market
Hong Kong-listed Century Entertainment International Holdings Ltd has announced its plans to enter the Philippine gaming market through a new joint venture. The company disclosed the development in a filing on Tuesday, revealing it had reached an agreement with an undisclosed partner to expand operations into gaming system platforms and content development within the Philippines.
LISTEN TO THIS ARTICLE:The unnamed joint venture partner is a company incorporated in the Philippines and holds a license from the Philippine Amusement and Gaming Corporation (PAGCOR). The license designates the company as a gaming system service and gaming content provider. The venture, to be incorporated in Hong Kong as a limited liability company, will see Century holding a 51% equity interest, giving it majority control in the new entity.
Related: The Philippines to Investigate Possible Casino Junket Money LaunderingCentury stated that both parties are working toward finalizing a formal joint venture agreement within 30 days. This forthcoming agreement will outline the corporate structure, governance standards, and operational framework of the new enterprise. The establishment of the joint venture is expected to formalize the collaboration between the firms and solidify Century Entertainment's expansion into the region's regulated gaming technology sector.
As part of the partnership, Century will provide technical support in the form of research and development, along with ongoing maintenance services. The company will also contribute by leveraging its existing market access through its established distribution networks, marketing divisions, and business development teams. Additionally, it will manage key administrative functions such as financial oversight, regulatory compliance, and human resources support.
The Philippine partner, for its part, will bring in proprietary gaming systems, including platforms, digital content, software, source code, and related intellectual property rights. These assets form the technological foundation of the new venture and will be integral to the development and delivery of gaming services under the agreement.
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Century to Control New Firm's Movements
The board of the newly formed joint venture will consist of five directors, with three seats controlled by Century. This structure gives the Hong Kong-listed firm majority influence over strategic decision-making and oversight.
Profits and losses will be distributed based on each party's equity stake, with earnings calculated according to gross gaming revenue from the platforms. Further details on revenue generated through third-party channels are expected to be addressed in the finalized joint venture agreement.
Century has been actively seeking new opportunities in the gaming sector following its operational launch in Cambodia in October of the previous year. Under a three-year contract, the company began operating two VIP rooms in a casino located in Dara Sakor, Koh Kong province.
The combined area of these rooms spans approximately 650 square meters and features seven gaming tables. The Cambodia operation marked a shift from its traditional junket business model toward a broader gaming operations role.
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