Century Casinos Inc announced their 2018 losses at $3.6 million from opening a casino in Vietnam. The American company became part owner of a casino near the country’s northern border with China in April.
Century Casinos filed a financial report with Nasdaq announcing the loss was capped by buying a share in a different Vietnamese company.
The casino is near the Chinese border, so it is viewed as a strong business opportunity as Chinese tourists are able to visit the casino relatively conveniently. Gambling is not allowed in mainland China, and Vietnamese citizens are not allowed to gamble at the casino.
The casino also has 32 hotel rooms and a license to have up to 26 electronic table games.
According to GGR Asia, in a call with investors co-CEO Peter Hoetzinger said,
“Vietnam is developing as planned, step-by-step, on a small scale for now.”
Century Casinos also made clear that they do not intend to increase their investment in Vietnam within the next year, and they instead will focus on upgrading their current casino with small changes.
A version of this article first appeared at ggrasia.com