Place Your Bets: Cambodia's Casinos to Reopen Soon

Whether you're a working stiff or a business owner yourself, this is the place to discuss all aspects of financing your drinking habit ;-)

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Grand Barong
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Re: Place Your Bets: Cambodia's Casinos to Reopen Soon

Post by Grand Barong »

SternAAlbifrons wrote: Mon Aug 02, 2021 3:25 am
Grand Barong wrote: Sun Aug 01, 2021 11:59 am
SternAAlbifrons wrote: Sun Aug 01, 2021 3:11 am NB. imo only - dont buy just on my recommendation
Can Donacos share price bounce back once borders reopen with Star Vegas in full operation? seems like an opportunity to get in cheap?
I called a couple of my old mates, the ones that gave me my start in this game.
Warren Buffet said, NO!!
Micheal Milken - Go for it!!

Smart thinking Grande - but maybe for play money only.
tip - buy June 1, sell July 30, almost any year you wanna pick (catch the reporting day boost)
and that way you can smirk just like KPMG auditors do.
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SternAAlbifrons
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Re: Place Your Bets: Cambodia's Casinos to Reopen Soon

Post by SternAAlbifrons »

breaking...
Don't sell yet.
I hear a whisper Grande is buying up big...


Fact is, i still can't figure out a satisfactory enough picture for myself of the full history and the real story of this mob
- with all the shadow plays constantly swirling.
But i do believe that is where the truth is - in the shadows.
judging by some of the subtle signs as well as the bleeding obvious indications, that i have seen anyway.
A bit of a look around some the previous and current board members only leaves more intriguing questions, always has.

No big deal tho'. Just another ***m.
ffs dont expect the investigator Pulitzer if you start looking around either the casino world or stock markets anywhere.
you can't help tripping over a 100 scams the minute you walk in the door.


NB, ^^ all imo only.
(i better be careful with my language i suppose. they are a reputable australian listed company, after all)
Winniethepooh
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Re: Place Your Bets: Cambodia's Casinos to Reopen Soon

Post by Winniethepooh »

Nagaworld has reopened. Guests are required to take an Antigen Rapid Test which will be valid for 7 days. In addition, don't forget your vaccine card or you will be denied entry.
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Kigna
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Re: Place Your Bets: Cambodia's Casinos to Reopen Soon

Post by Kigna »

Winniethepooh wrote: Sun Sep 19, 2021 8:56 pm Nagaworld has reopened. Guests are required to take an Antigen Rapid Test which will be valid for 7 days. In addition, don't forget your vaccine card or you will be denied entry.
Even the Nagaworld hotel is open now?
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Re: Place Your Bets: Cambodia's Casinos to Reopen Soon

Post by Winniethepooh »

Yes, it's open now but quite expensive for a night stay. 105 for Naga 1 and 65 for Naga 2. Unless you are a premium player with comps, you are likely to pay this rate.
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Re: Place Your Bets: Cambodia's Casinos to Reopen Soon

Post by Ghostwriter »

Mmmh...I assume someone is cleaning the chips and cards at each game ? Because between nervous players and smokers, lots of face-touching moment in sight....
Awaiting for probable casino peak of infections in the next 2 weeks, backed by vax certificates from various suppliers in such an important venue..
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Re: Place Your Bets: Cambodia's Casinos to Reopen Soon

Post by John Bingham »

Well it appears that casinos will be allowed to open again, but they will be operating under some heavy restrictions. You want a $25m casino, a $50m casino, a $100m casino? Get in the queue. Anything not able to guarantee that won't get a license.
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Re: Place Your Bets: Cambodia's Casinos to Reopen Soon

Post by CEOCambodiaNews »

The United States Warns Gambling Companies to Tread Lightly in Cambodia
By Yasmin Moore
Published November 12, 2021
Est. 3 minutes

Several US establishments, including the Department of State, the Department of Treasury, and the Department of Commerce, have warned US betting operators who target or consider targeting the Cambodian marked to be vigilant, amid concerns about the high rates of crime in Cambodia.

The US Warns its Local Operators

The three bodies emphasized that numerous Cambodian entities are involved in money laundering, drug dealing, and human trafficking, which may, in turn, expose the US companies to risk. They pointed out that the Cambodian regulators cannot keep up with the fast growth of gambling in the country – just between 2014 and 2019, Cambodia has seen a 263% increase in casino licenses. As law-keepers struggle to follow everything that is happening, crime flourishes.

The advice reminds that the Financial Action Task Force, a body dedicated to fighting money laundering and terrorism financing, gray-listed Cambodia in 2019 because of the country’s lax regulations.

Child labor is considered to be one of the big problems in the Cambodian betting market, as minors are allegedly working in all sectors of the casino industry, including the construction of the betting venues themselves.
https://www.gamblingnews.com/news/the-u ... -cambodia/
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Re: Place Your Bets: Cambodia's Casinos to Reopen Soon

Post by CEOCambodiaNews »

Foreign Casinos Have Been a Disaster for Cambodia
Beyond the government’s crack down on striking workers from the NagaWorld casino complex, Chinese-run gambling operations have brought a host of social ills.
By Meghan Murphy
July 07, 2022

On June 27, hundreds of Cambodian security personnel violently dispersed a group of striking NagaWorld casino workers, beating the mostly female crowd and leaving 10 people injured.

Since December 2021, staff at the casino in Phnom Penh have engaged in organized strikes against layoffs at NagaWorld, which is Cambodia’s largest casino and one of the capital’s major employers. The strike and accompanying protests have resulted in the arrests of hundreds of protestors and raised the ire of government officials and state-run papers, who have wrongfully claimed that the worker strike was instigated by foreign agents.

However, NagaWorld itself is not a native project: it is owned by Chinese-Malaysian businessman Chen Lip Keong and is publicly listed on the Hong Kong Stock Exchange. NagaWorld is just one foreign-owned casino among many that have produced a host of new social challenges in recent years.

Gambling and foreign-backed casinos are not new in Cambodia’s history. Foreign travelers have encountered Chinese-owned casinos in Phnom Penh as early as the sixteenth century. However, the gambling industry in Cambodia exploded in 2017, when Chinese-funded casinos took over the once-sleepy beach town of Sihanoukville and initiated an arrival of Chinese tourists seeking to gamble abroad, something that is illegal in China outside Macau. Sihanoukville was transformed by the influx of casinos and accompanying Chinese hotels, restaurants, and karaoke clubs, and Chinese nationals came to own 90 percent of businesses in the city.

... Chinese casino corporations have adopted a system of “labor force dualism,” whereby artificial barriers related to wages and benefits are created between Chinese and Cambodian workers, resulting in drastically different treatment. According to labor researcher Ivan Franceschini, Chinese casino workers on average earn 4.5 times as much as their Cambodian colleagues for the same work. The low pay is exacerbated by the rising costs of living in Sihanoukville and Phnom Penh, making it difficult for locals to make ends meet.
Full article: https://thediplomat.com/2022/07/foreign ... -cambodia/
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Re: Place Your Bets: Cambodia's Casinos to Reopen Soon

Post by CEOCambodiaNews »

Licence renewals restart Cambodia casinos
August 24, 2022
by David Snook

The country’s General Secretariat of Commercial Gambling Managing Commission of Cambodia has renewed another 47 casino licences and seven games of chance licences. In addition to the 13 casino and three games of chance licences approved in June, this brings the total to 70.

The sector is trying to recover from the impact of the pandemic and from the reduction in visitors from neighbouring China, brought about by that country’s limits on border crossings while it too tackles the ongoing pandemic.

Gambling in Cambodia has also been under pressure from negative media reports concerning the use of illegal workers and staffing issues at NagaWorld in Phnom Penh.

Most of the renewed licences apply to locations closed down for over two years by the pandemic. Casinos in Cambodia must renew their licences annually.

The country has around 200 casinos but only about 20 of them were operational at the end of June. However, 129 had reapplied for the renewal of their licences.
https://www.intergameonline.com/casino/ ... ia-casinos
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