Anchor Moy wrote: ↑Fri Apr 02, 2021 12:41 am

rogerrabbit wrote: ↑Fri Apr 02, 2021 12:24 am

truffledog wrote: ↑Thu Apr 01, 2021 11:45 pm you have to view those investment under the very very long range...its just about occupying the spots which someone considers to be lucrative in the very long run. The money invested does not necessarily need to produce returns in the first 10 years or so. The origins of the money invested is rarely clear. Some of the operations could be used a huge washing machine at the end...maybe their sole purpose.

Cambodia is selling out its prime spots (islands, beaches, national parks, and many other "national" assets) to mostly chinese investors as we know and see on a daily basis filling some deeeeeeeep pockets (that is without the population having any benefit). Change? I dont see that happen anytime soon.

In reality those prime spots were sold to europeans and russian investors already 10-15 years ago.

Are you saying that Europeans and Russians now own Cambodia's prime land - coast, islands, forests ? Can you give us more information ?

Chinese probably own majority of it now. But still in 2015 most of the prime coast and islands were western owned.

You can read this for starter https://www.theguardian.com/world/2008/apr/26/cambodia That article really cover just a fraction of the reality.

John Bingham wrote: ↑Fri Apr 02, 2021 12:59 am

Anchor Moy wrote: ↑Fri Apr 02, 2021 12:41 am

rogerrabbit wrote: ↑Fri Apr 02, 2021 12:24 am In reality those prime spots were sold to europeans and russian investors already 10-15 years ago.

Are you saying that Europeans and Russians now own Cambodia's prime land - coast, islands, forests ? Can you give us more information ?

It's outdated nonsense. About 12 years ago the gossip in Sihanoukville was all about "Russian Mafia/ Military" buying up the islands. Polonski bought one and put a bridge in then got deported and it was seized.
None of the huge developments that have been announced since involve Europeans.

It was mainly Europeans who were the ones buying all the land. Russians bought some too but mainly couple French and Swiss companies. The buying frenzy really continued all the way to 2012. If you google you can find some leaked offshore holding company documents to proof some of this and you can even find out how well they profited from selling the same land to Chinese.

I think you are talking about Puos/Snake/Morakot island in Sihanoukville? Well it's still owned by Russian company...

I don't believe many were actually western owned, they mostly had dodgy leases on them but they weren't always honored.

Yes Koh Rong probably where most of the land deals were lost. And yes mostly 99-year leases but for example most of the Ream land deals were honored as were the other island leases. And the land in Ream is actually still is partly owned by french investors.

rogerrabbit wrote: ↑Fri Apr 02, 2021 1:02 am

Anchor Moy wrote: ↑Fri Apr 02, 2021 12:41 am

rogerrabbit wrote: ↑Fri Apr 02, 2021 12:24 am

truffledog wrote: ↑Thu Apr 01, 2021 11:45 pm you have to view those investment under the very very long range...its just about occupying the spots which someone considers to be lucrative in the very long run. The money invested does not necessarily need to produce returns in the first 10 years or so. The origins of the money invested is rarely clear. Some of the operations could be used a huge washing machine at the end...maybe their sole purpose.

Cambodia is selling out its prime spots (islands, beaches, national parks, and many other "national" assets) to mostly chinese investors as we know and see on a daily basis filling some deeeeeeeep pockets (that is without the population having any benefit). Change? I dont see that happen anytime soon.

In reality those prime spots were sold to europeans and russian investors already 10-15 years ago.

Are you saying that Europeans and Russians now own Cambodia's prime land - coast, islands, forests ? Can you give us more information ?

Chinese probably own majority of it now. But still in 2015 most of the prime coast and islands were western owned.

You can read this for starter https://www.theguardian.com/world/2008/apr/26/cambodia That article really cover just a fraction of the reality.

Thanks, interesting article from 2008. Not totally accurate in their forecast though, since the Koh Tonsay families are still there, or most of them:

Soon after, Koh Tonsay, or Rabbit Island, was auctioned off to Chinese investors; 14 fishing families were evicted to make way for a casino and a golf course.

Actually, my real question is : are you saying that it is western developers who bought up prime Cambodian land and then sold it to the Chinese ?

Anchor Moy wrote: ↑Fri Apr 02, 2021 1:39 am

rogerrabbit wrote: ↑Fri Apr 02, 2021 1:02 am

Anchor Moy wrote: ↑Fri Apr 02, 2021 12:41 am

rogerrabbit wrote: ↑Fri Apr 02, 2021 12:24 am

truffledog wrote: ↑Thu Apr 01, 2021 11:45 pm you have to view those investment under the very very long range...its just about occupying the spots which someone considers to be lucrative in the very long run. The money invested does not necessarily need to produce returns in the first 10 years or so. The origins of the money invested is rarely clear. Some of the operations could be used a huge washing machine at the end...maybe their sole purpose.

Cambodia is selling out its prime spots (islands, beaches, national parks, and many other "national" assets) to mostly chinese investors as we know and see on a daily basis filling some deeeeeeeep pockets (that is without the population having any benefit). Change? I dont see that happen anytime soon.

In reality those prime spots were sold to europeans and russian investors already 10-15 years ago.

Are you saying that Europeans and Russians now own Cambodia's prime land - coast, islands, forests ? Can you give us more information ?

Chinese probably own majority of it now. But still in 2015 most of the prime coast and islands were western owned.

You can read this for starter https://www.theguardian.com/world/2008/apr/26/cambodia That article really cover just a fraction of the reality.

Thanks, interesting article from 2008. Not totally accurate in their forecast though, since the Koh Tonsay families are still there, or most of them:

Soon after, Koh Tonsay, or Rabbit Island, was auctioned off to Chinese investors; 14 fishing families were evicted to make way for a casino and a golf course.

Actually, my real question is : are you saying that it is western developers who bought up prime Cambodian land and then sold it to the Chinese ?

Yes that what I'm saying.

Wikileaks named Kith Meng as HE’s bagman. It’s true.

Back on topic: UPDATE on casino developments in Dara Sakor [Koh Kong]


Century Entertainment signs 5-year deal for eight gaming tables in casino in Dara Sakor, Cambodia
By Kelsey Wilhelm -
February 28, 2023

Cambodian table games operator Century Entertainment says that it has signed a new five-year agreement to operate eight gaming tables at its casino in the country.

The group had relocated its casino operations from Sihanoukville to a new casino in Dara Sakor during the pandemic.

The new agreement is at a consideration of HK$58 million ($7.39 million) but is offset by the amount owned by the company’s CEO and his fully-owned subsidiary Lion King amounting to the same value.

The new casino and all eight tables under the new agreement commenced operations in November of 2021, however the operations were hindered due to COVID restrictions and shutdowns.

The group notes that an appraisal of the tables value totaled HK$63.6 million ($8.11 million), as of September 30th, 2022, and that the consideration of the new agreement represents a ‘discount of approximately 8.8 percent to the preliminary valuation’.

Additionally, the company’s CEO and Lion King have noted that would pay for any relocation costs for moving to the new casino and loss of revenue during the relocation period ‘calculated based on the average daily gross revenue generated from the new tables’ during the completion period, multiplied by the number of days for the relocation.

The new casino in Dara Sakor, Koh Kong province is 10,500 square meters in size, with the casino areas making up 7,000 square meters.

The property includes 20 mass gaming tables – including baccarat (including the new tables, poker, blackjack and sic bo – as well as 50 electronic gaming machines, 25 VIP tables and a Chinese restaurant.

The company is leasing the casino and gaming license until April 2036.

The new gaming tables will only be located in the mass market area of the casino, with Century Entertainment to take 100 percent of house winnings, while being responsible for 100 percent of losses. It will also cover staff costs and taxes associated with the tables.

It also pledges to work with the casino leaser to ‘promptly renew the gaming license on an annual basis’.

The group will also be responsible for verifying player identities and keeping records on players and junkets, as well as recording bets and monitoring revenue and reporting suspicious irregularities.

Only cash will be allowed at the new gaming tables.

The group notes that Chinese customers ‘are expected to be the New gaming Table Business’ major patrons’.
https://agbrief.com/news/cambodia/28/02 ... -cambodia/

Sun 2 Jul 2023 at 10:07
Century Entertainment yet to launch new Cambodian table games business as FY23 revenue falls to zero
Dara Sakor, Cambodia

Hong Kong-listed Century Entertainment International Holdings Ltd has confirmed it is still yet to launch its new table games business in Cambodia, almost four years after first announcing plans to relocate operations from its former home in Sihanoukville to a casino Dara Sakor.

Despite revealing in February that it had agreed to a new five-year deal to operate eight gaming tables at the Dara Sakor property, Century Entertainment said in its FY23 results announcement on Friday that implementation of the deal was dependent on shareholder approval and that it has not yet dispatched the relevant circular to those shareholders.

This, it said, has been postponed “to a date falling on or before 31 August 2023” to allow time for additional information to be included.
https://www.asgam.com/index.php/2023/07 ... s-to-zero/