Tag: Cambodia

Naga bets big on Chinese tourists

Nagaworld casino Cambodia Chinese Tourist
NagaCorp’s plans for the $3.5bn third phase to its NagaWorld casino complex in Phnom Penh “are its most ambitious yet” explains Warwick Bartlett, CEO of..

CEO backs $3.5bn Naga Three extension

Naga Three Cambodia Expansion
NagaCorp has confirmed the cost of its Naga Three development in Phnom Penh will hit $3.5bn, partly funded by its own CEO Chen Lip Keong, providing an..

Cambodian legal woes plague Donaco H218 results

Cambodia,Pin,Map,Donaco International,Star Vegas Resort
Donaco International has recorded a $26m loss for the second half of 2018, due to a major impairment charge and ongoing legal costs surrounding its Star Vegas resort, Cambodia.

Cambodia marks Chinese investment with licence boom

Cambodia, politics
The Cambodian government has reported 52 casino licenses were granted during 2018, a 53 percent increase from the 98 venues holding licenses at the beginning of the year. The Ministry of Economy and Finance stated the office expects to generate tax revenue for 2018 of $56m from existing casinos, with regulatory amendments first proposed in 2014 designed to increase the...

Cambodia’s new gaming law potentially ‘transformational’

Cambodia, new gaming law, law, asia
Government representatives suggest that Cambodia’s new gaming legislation could be passed by 2019. Industry stakeholders have welcomed Cambodia’s draft gambling bill, suggesting the new legislation will lay the groundwork for the further development of the country’s gaming industry. While the Law on the Management of Integrated Resorts and Commercial Gambling (LMCG) still has a way to go before its passed, the...

Konami under starter’s orders for Asian Fortune Cup expansion

Poipet, Cambodia
Konami has announced the first Asian market installation of its mechanical horse racing game Fortune Cup. The multi-station product has been integrated into the games offering of DNA Star Vegas in Poipet, Cambodia, through a distribution agreement with RGB International. Fortune Cup features a 274 cm wide mechanical track with eight horses that travel freely and independently across the course. The horses’...

Donaco fights back over Cambodian vendor disputes

Poipet, Cambodia
The vendors who own the area of Poipet on which Donaco International Ltd’s Star Vegas resort holds a 50-year lease have commenced arbitration proceedings against the company. The three Cambodian nationals filed the complaint in order to overturn a June injunction pre- venting the threat of ceasing the leasehold enforced by the Banteay Meanchey Court of First Instance. “Donaco is confident...

Cambodia chasing the dragon: Government looks to boost Chinese investment and draw tourism into the fold

Cambodia
Cambodia’s casino industry looks likely to reap the benefits of increasing ties with China, as the government gets set to roll out legislative reforms aiming to attract further foreign investment in the gambling sector. In more ways than one, Chinese money keeps rolling into Cambodia’s gaming mar- ket, as the government hopes that new legislation will only add fuel to...

Lucky for some: Cambodia’s new gambling bill

iGaming Times Cambodia
The Cambodian market is a game with two sets of rules: one for NagaWorld, and another for everybody else. Ben Lee, partner at Macau-based consultancy firm IGamiX, explains what provisions the country’s much-awaiting gaming bill is likely to make for these two classes of enterprise. Cambodia’s casino market is a feral world, where private people still barter for licences and...

Takara Gaming Group expands into Southeast Asia

Savan Vegas Laos southeast
Takara Gaming Group (TGG), an open-source gaming platform, is entering the Southeast Asian market with two local casino groups: Golden Crown and Superrich the Best Casino.   Co-founder and CEO Raymond Chan said: “TGG is eyeing the potential of Southeast Asia. Much of the new growths has come from Chinese visitors, the major reason behind this due to the booming...

Donaco pushes back launch of Cambodian online venture

cambodia donaco
  Australian-listed casino operator Donaco International has stated that it has again delayed the launch of its online gambling operations in Cambodia.   Speaking during the company’s AGM in Sydney, Donaco’s MD Joey Lim revealed that “the initial launch of our online gaming business has been slightly delayed, and is now also expected in December.” It has been over a year since Donaco...

Snakes and ladders: Cambodia finalising gaming bill

cambodia
  The Cambodian market is going through a period of change. Ben Lee, partner at Macau-based consultancy firm IGamiX, gives an overview of the country’s much-awaited gaming bill, and parts the strands to take a look at the real forces affecting the domestic market.   The close-to-final draft of is currently with the cabinet, and once approved is expected to provide a...

Cambodia could legalise local play in new gaming bill

cambodia donaco
A gaming law that would regulate Cambodia’s casino sector is to be presented in draft form to the country’s cabinet before the end of this month.   Casinos in Cambodia may soon be allowed to admit local residents as similar moves in neighbouring countries put pressure on the government to follow suit. Ros Phearun, a senior official of that country’s Ministry of Economy...

NagaWorld expansion could open by Octoberas NagaCorp faces additional $16m tax bill

nagaworld
Hong Kong-listed casino operator NagaCorp is likely to open an extension to its flagship Cambodian casino in October, according to recent comments by Tim McNally, the company’s chairman.   The TSCLK Complex - also known as Naga2 - is attached to NagaWorld, a casino property located in the Cambodian capital, Phnom Penh. In a filing on 10 July, Naga Corp stated that...

Proxy betting: a friend indeed for Asia

ICR - Proxy Betting Shaun McCamley
Shaun McCamley, Partner at Global Market Advisors LLC and Head of Asia Operations, discusses the growing significance of proxy betting revenues for Asia’s grey markets.   Proxy betting is booming in Asia’s grey markets, with live streaming of table games thought to be pulling in a chunk of Macau’s missing VIP billions. In early 2016, industry analysts estimated that proxy betting’s contribution...

Pilling explores why grey matters in Asia

ICR - iGaming Lorien Pilling Grey Matters
Gaming in Asia’s largely unregulated markets can be volatile, but for Isle of Man-based gaming consultant, Lorien Pilling, the rewards of operating in this vast and voracious region can be more than compensatory.   The Asian continent is still many shades of grey for international gaming providers, yet revenue from the region is fast becoming a vital component on many a...

Casinos resorts rising on Cambodia’s borders

ICR - Cambodia
A Vietnamese firm is making good progress on its multi-million dollar casino resort project in Cambodia. Pressed close up to the border of Vietnam, the casino has high hopes of luring Vietnamese gamblers. The casino story, however, is not so positive on the country’s other border with Thailand.   Plans for Empire World City, Cambodia’s upcoming casino resort, currently being constructed...

Cambodia’s new casino regulation bill to be ready this year

Casino Review Cambodia
A bill to regulate the management of the casino industry in Cambodia should be approved this year, said Ros Phearun, an official from the country’s Ministry of Economy and Finance.   The Cambodian government is in the process of amending its gaming laws in a bid to draw major casino operators. According to reports, there are currently 65 casinos in operation...

Naga Corp carves niche VIP market in Cambodia

Casino Review - Naga Corp carves niche VIP market in Cambodia
Naga World, which has been granted monopoly status to operate anywhere in or around the Cambodian capital of Phnom Penh, is fast becoming a challenger to Macau in drawing a particular breed of VIP. The casino, run by the Hong Kong-listed owner, Naga Corp, is routinely outperforming rivals in the former Portuguese colony, reporting a 24 percent year-on-year increase in...

Naga 2016 financials likely to be ‘robust’

NagaWorld Cambodia
End-of-year financials from Hong Kong-based NagaCorp – owner and operator of Phnom Penh’s NagaWorld casino and hotel complex – are likely to show sustained, substantial growth, according to Japanese investment bank and brokerage Daiwa Securities. Daiwa representatives met with Naga management at the bank’s Consumer and Gaming Conference, which took place in Hong Kong last month. A follow-up note posted...

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