Number of casinos jumps by 53% in 2018

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phuketrichard
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Number of casinos jumps by 53% in 2018

Post by phuketrichard » Wed Jan 02, 2019 1:07 pm

WTF??? are there really that many tourists whose only reason to visit Camboida is to lose Money??
Or is it only for the owners to wash black money?
Cambodia granted 52 licences to casinos last year, bringing the total awarded to 150 at the end of 2018, thanks largely to a surge in gambling businesses in the Kingdom’s Preah Sihanouk province.

Figures from the Ministry of Economy and Finance said that there were 53 per cent more licensed casinos at the end of last year compared to the end of 2017 when there were just 98.

He said Cambodians are barred from betting in casinos and, if the law is fully enforced, the growing number of casinos will provide a positive impact for local people.
https://www.phnompenhpost.com/business/ ... 2DoAwmBqI0
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Re: Number of casinos jumps by 53% in 2018

Post by davegorman » Wed Jan 02, 2019 1:13 pm

I’ve been to Vegas and Macau a few times (business) and was astounded at the actual size of the casinos especially Macau.
You could put the biggest casino from SIhanoukville and it’d get lost in the car park in most Macau casinos.

Yes there’s many but all small.
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Re: Number of casinos jumps by 53% in 2018

Post by clutchcargo » Wed Jan 02, 2019 1:18 pm

As we all know the Chinese are chronic gamblers and when you have prohibition for casinos on mainland China, the people want it even more.

Now they can come to Chinaville for a beach holiday daytime and gamble at night. Oh joy! :dm:
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Re: Number of casinos jumps by 53% in 2018

Post by cautious colin » Wed Jan 02, 2019 3:10 pm

Genuinely surprised it is only 53%
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Re: Number of casinos jumps by 53% in 2018

Post by davegorman » Wed Jan 02, 2019 3:13 pm

I hear that after CNY it’s full steamed ahead for SIhanoukville. Marvellous.
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Re: Number of casinos jumps by 53% in 2018

Post by CEOCambodiaNews » Thu Jan 03, 2019 11:39 am

Chinese Gamblers Prompt Casino Growth in Cambodia
January 2, 2019 11:06 am·
Multiple new casinos spring up in Cambodia in 2018 due to inflow of Chinese gamblers, government statistics show.

Cambodia issued 52 casino licenses in 2018, bringing the overall number of licenses granted to 150, local news outlet the Phnom Penh Post reports, citing information by the nation’s Ministry of Economy and Finance.

The figure for 2018 represents a 50% increase from the number of overall licenses awarded by the end of 2017, it also becomes clear.

The massive rise was attributed to the surge of demand for casino gambling in the Preah Sihanouk province. The increased demand was, in turn, due to an influx of Chinese travelers into the Southeast Asian country.

Preah Sihanouk, a southwestern coastal province, alone is home to 88 casinos, according to Ros Phirun, Deputy Director of the General Department of Financial Industry, the government agency responsible for the regulation of the nation’s casino industry.

It is still unknown how much Cambodia’s gambling venues generated for the government last year, as the Finance Ministry is yet to complete its annual revenue report. Mr. Phirun told local media that the government targeted $56 million last year, but it is yet to be seen whether the target was reached. Casino operators are obligated to pay an annual license fee of $40,000 to run their facilities.

Mr. Phirun added that the government of Cambodia is drafting a new law for the regulation of the nation’s casino industry and that they hope once it becomes effective, revenue contributions will rise.

Cambodians are barred from gambling at the nation’s casinos. Lawmakers and regulators note that despite the ban, residents reap multiple other direct benefits from the growing number of casinos around Cambodia, as they supply food and other products to the gambling venues. In addition, the government and Cambodians benefit from higher tax revenue due to the increased investment activity in the country.

As mentioned earlier, the Preah Sihanouk province has seen a massive inflow of Chinese tourists in recent years, which has prompted the construction of new casinos and other entertainment facilities. While the increased employment opportunities and land prices, both the result from the flourishing gaming and hospitality industries in the region, have been praised as great benefits for communities, there have also been multiple concerns voiced.

San Chey, Executive Director of the Affiliated Network for Social Accountability, told local media that the growing number of casinos should not be received as entirely good news due to multiple social risk factors involved.
https://www.casinonewsdaily.com/2019/01 ... -cambodia/
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Re: Number of casinos jumps by 53% in 2018

Post by Stinkman » Thu Jan 03, 2019 11:44 am

davegorman wrote:
Wed Jan 02, 2019 3:13 pm
I hear that after CNY it’s full steamed ahead for SIhanoukville. Marvellous.
...and what's it been up until now?
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Re: Number of casinos jumps by 53% in 2018

Post by davegorman » Thu Jan 03, 2019 11:54 am

Stinkman wrote:
Thu Jan 03, 2019 11:44 am
davegorman wrote:
Wed Jan 02, 2019 3:13 pm
I hear that after CNY it’s full steamed ahead for SIhanoukville. Marvellous.
...and what's it been up until now?
The warm up...

(I meant it’s slowing down a bit, so I was told)
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Re: Number of casinos jumps by 53% in 2018

Post by cptrelentless » Thu Jan 03, 2019 12:42 pm

davegorman wrote:
Thu Jan 03, 2019 11:54 am
Stinkman wrote:
Thu Jan 03, 2019 11:44 am
davegorman wrote:
Wed Jan 02, 2019 3:13 pm
I hear that after CNY it’s full steamed ahead for SIhanoukville. Marvellous.
...and what's it been up until now?
The warm up...

(I meant it’s slowing down a bit, so I was told)
Most of the first wave projects should be finishing up in the next six months, the wave of Downtown to Beach Road is pretty much done, the march of projects towards Otres seems to be slowing down due to lack of space; it looks like it's mostly boreys outside of the centre that are popping up now. So yeah, I would say it does look like it might be chance for a slow down. The first lot of two year rentals should be up now.
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Re: Number of casinos jumps by 53% in 2018

Post by CEOCambodiaNews » Mon Jan 07, 2019 7:04 pm

Number of casino licenses reach 150 in Cambodia
January 7, 2019

Cambodia casino industry has passed a milestone as the country has issued its 150th casino license.

According to the figures released by Cambodia’s Ministry of Economy and Finance, there are 150 active casino licenses at the end of 2018, up from just 98 at the end of 2017. The Preah Sihanouk province alone boasts of 88 active casino licenses.

The government has yet to provide specifics on how much revenue it reaped from the gaming industry in 2018. But Ros Phirun, deputy director of the General Department of Financial Industry, told the Phnom Penh Post that the ministry had previously forecast gaming tax and fee revenue of $56m. That would be more than twice the sum the government collected in 2014.
https://europeangaming.eu/portal/latest ... -cambodia/
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