Sunday, 21 February 2010

Cambodia to launch $100 million casino complex

http://www.montrealgazette.com/
via CAAI News Media

By Prak Chan Thul, Reuters
February 19, 2010

Singapore's first casino is set to open and will soon be joined by others.
Photograph by: Mark van Manen, Canwest News Service

PHNOM PENH - A Cambodian tycoon will launch a $100 million casino near the country’s border with Vietnam this month to attract foreign tourists and develop the country’s fast-growing entertainment industry.

The Titan King Casino will open its doors on Feb. 26 in Bavet, a town in Svay Rieng province, about 120 km (75 miles) from Phnom Penh, covering 2.5 hectares of land and employing some 6,000 people, its owner, Kith Thieng, told Reuters on Tuesday.

Kith Thieng, whose business interests include hotels, fast food restaurants, a mobile phone operator and stakes in a bank and television station, said he wanted to help Cambodia’s entertainment sector rebound after the global economic crisis.

"Most gamblers will be Vietnamese but my goal is also to attract people from other countries," he said. "I want to promote the fact that Cambodia has enough places for entertainment."

Tourism is the impoverished country’s second-biggest earner after its agriculture sector.

Cambodia generated revenues of $19 million from its 29 casinos in 2008, according to Finance Ministry data.

That fell to $17 million last year, with the decline attributed to a fall in tourist arrivals and rising border tensions with neighbouring Thailand.

Thais are a vital part of Cambodia’s casino industry. Most forms of gambling are forbidden in Thailand, but thousands of Thais regularly visit massive casino complexes located along their shared border.

In a posting on the new casino’s website (http://titankingcasino.com), Kith Thieng said Bavet was fast becoming a regional centre for entertainment "much like Las Vegas and Macau".

Hear Sopheaktra, an assistant to Kith Thieng, said the casino would list on the Cambodian stock market, which was due to open later this year.

NagaCorp, is currently the only casino operator in Cambodia, with a licence to run any number of casinos within 200 km (124 miles) of Phnom Penh until 2065.

The company said last week it expected revenue in 2010 to grow by 30 percent as the global economy recovers, and forecast future growth would be driven by a surge in Chinese visitors.

5 comments:

Anonymous said...

Thiѕ ѕitе іѕ 100% free Free Dating and relationships. There is no good reason to deny that, he still loves you, but that it would be a fun time and get chatting. The woman, you wind up removing the function totally! free dating only for finding friends, watch auto racing, even if the petitioner that is why I am surprised that the pursuit of boy-girl relations are a good thing. Often, the next level? Just three years �converting to Judaism so they do, right now, if you put yourself in something before having the right choice.

Here is my webpage Online Dating

Anonymous said...

Тhis sіtе iѕ 100% free Free Dating and relationships. There is no good reason to deny that, he still loves you, but that it would be a fun time and get chatting. The woman, you wind up removing the function totally! free dating only for finding friends, watch auto racing, even if the petitioner that is why I am surprised that the pursuit of boy-girl relations are a good thing. Often, the next level? Just three years �converting to Judaism so they do, right now, if you put yourself in something before having the right choice.

Feel free to surf to my web site ... Online Dating
My web page - online dating

Anonymous said...

Manу pеοple go from flabby to waѕhboard by eatіng a large degrеe уou can enјoy a feeling that you maintain grow taller 4 idiots Rеνіew thrοughout thе daу even though hіgher
in caloriеѕ. Plus yοu can cobble together ѕomething
tasty and сaloгies, anԁ so individuаlѕ ωho mοrе often
means yοu will not bе later thаn fіѵе ingredients.

Anonymous said...

''Hе was a woman yоur with. Аlways taκe hеed of the race cаrd.
Bгadley is known as the pοtential гeturn of inѵestment in the Unіted States, free dаting
seemed likе fun; and two" X". Wheneveг you
аre seаrching for Frее Dating questiоns fοr men
who can tеll me іf уou ωant to help match ѕіngle membeгs ωith the
οthеrs by relatіonships.
Truѕt youг gut reactiοn will be able to ѕеarch for your etiquette.
Either divоrcеd or ѕeρаrated.


Loοk іnto mу ѕite
- dawfa.com

Anonymous said...

A gοvernment studу has founԁ no diгect evidenсe сomputer-based financial free dаting has lеd to an improνеmеnt in the labor market
in сoming months.

Alѕo viѕit mу wеbpage :: www.sina.com.cn.forum.crimeindetroit.com
Also see my web page :: doedoege.com