NagaCorp’s original deal with Cambodia’s government gave the company a 70-year gaming license expiring in 2065. The deal also assured NagaCorp of a casino monopoly in and around Phnom Penh — with a few geographic exceptions, such as Sihanoukville and along the border with Vietnam — until January 1, 2036. The deal announced Tuesday extends that monopoly until December 31, 2045.
Sihanoukville has opened its newest casino, and it has Cambodian officials excited about the economic opportunity it will bring. The Goddess of Liberty Casino opened on October 30, with government dignitaries on hand to celebrate.
Owners of a Chinese-run casino closed for polluting a beach in Cambodia’s Sihanoukville have applied to build a new casino in another location, amid growing…
Gambling is illegal in China and online gambling centres which cater to Chinese nationals have sprouted up across ASEAN as a result – most notably in Cambodia and the Philippines.
At the press conference promoting G2E Asia @ the Philippines in Manila on Tuesday, 8 October 2019, Domingo said she didn’t want the cessation of Cambodian online gaming licenses to see operators simply move their business operations to the Philippines instead.
Once a quiet seaside haven for backpackers, Sihanoukville has morphed into a giant construction site in the past three years. Cranes dot the skyline, roads have become muddy potholed lanes and jackhammers resonate late into the night. Many of the new buildings are casinos.
According to a filing with the Hong Kong Stock Exchange, NagaCorp., which owns the complex, has seen the venue take in $1.29 billion in gross gaming revenue (GGR) from January to September, marking a 20.2% increase over the same period last year. Net gaming revenue at the property has seen an even bigger year-on-year jump.
Cambodia’s once-thriving casino industry is undergoing all sorts of changes, some of it spurred by the government’s recent decision to rein in its online gambling market.
Chinese and Cambodian authorities have arrested almost 1,000 people suspected of engaging in online gambling, telecommunications fraud and gang crimes this year, according to information released by China’s Ministry of Public Security.
Briefly, the state has just dedicated itself to a significant turnaround. Prior to this he was the biggest proponent of transferring the tourism industry of Cambodia to Chinese gamblers–at the cost of Western backpackers ‘ traditional tourism industry.