On 6 July 2020, Century Entertainment International Holdings Limited has been notified by Lion King, being the assignor of the Gaming Table Business Rights, that in light of the outbreak of the novel coronavirus (COVID-19) and the temporary closure of all casinos in Cambodia since 1 April 2020, Lion King (i) was unsuccessful to negotiate with the landlord for any possibility to reduce the lease payment of the Casino; and (ii) has been offered comparatively more attractive terms for lease at a new location, namely Ming Guan Hotel situated at Street 115, Preah Sihanouk, Sihanoukville Municipal, Cambodia (the "Potential New Location"), where Lion King could continue the Casino operation with the entire block of hotel and facilities at a lower lease rate. Lion King has considered that it would be definitely beneficial to the business performance of the Casino in the long run and has decided to move the operation of the Casino from its existing location at Sunshine Bay Hotel to the Potential New Location. At the same time, Lion King has put on table (i) a signed letter of intent between Lion King and Han Guan Co. Ltd. ("Potential New Landlord"), an independent landlord, on the proposed lease of the Potential New Location by Lion King with the Potential New Landlord to continue the operation of the Casino (the "Lease LOI"); and (ii) on-site photos, videos and presentation regarding the New Location, for the Company assessment. The Company noted that the Ming Guan Hotel is a newly constructed hotel comes with newly decorated casino venue ready for lease.