Cambodian Casino License Boom in 2018

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Cambodian Casino License Boom in 2018

Post by CEOCambodiaNews »

The proposed tax amount is twice the size of the figure collected by the authority in 2014.
Yet the number of casinos has more than doubled since 2014. Somebody is not doing their maths.

Cambodia marks Chinese investment with licence boom
28 Feb, 2019
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 figure.

“We are actively drafting a law to govern casino and gambling businesses, and when it is finalised and ready to be activated, we hope revenue from the sector will be bigger,” said Ros Phirun deputy director of the ministry.

The proposed tax amount is twice the size of the figure collected by the authority in 2014.

The boom follows recent substantial investment in Sihanoukville by Chinese developers as part of the One Belt One Road initiative, with the coastal town now boasting 88 approved licences.

Gambling operators under licence are expected to pay an annual $40,000 fee.
https://www.casino-review.co/cambodia-m ... ence-boom/
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Re: Cambodian Casino License Boom in 2018

Post by CEOCambodiaNews »

The casino junket business is taking off in Cambodia.
[Junket operators fly in "VIP" customers and deliver them directly to the casino, where all expenses are usually paid, and all the punter has to do is spend their money gambling. See below.]

Casino junkets increasingly opening shop in Cambodia
Hor Kimsay | Publication date 05 March 2019 | 09:55 ICT
Cambodia is becoming an attractive destination for Macanese junket casino operators to set up shop, as the market is currently rapidly growing while the junket market in Macau is shrinking, according to Morgan Stanley Asia Ltd analysts.

Praveen Choudhary and Jeremy An of Morgan Stanley Asia visited Macau last month and issued a memo that revealed that the junket operations that they saw were doing better abroad than locally.

“Growth is mainly coming from the Philippines, Vietnam and Cambodia, while [South] Korea and Australia are not doing so well,” the two analysts were quoted as saying on Macau-based gambling website GGR-ASIA.

“For the junket operators we met, overseas business is growing faster than in Macau, but not at the expense of Macau.”

Junkets are trips offered to VIP Casino customers for travel to, and play at, a particular casino.

Hong Kong listed casino operator NagaCorp Ltd, the parent company of NagaWorld in Cambodia, said in its 2018 report that it expects all four of Macau’s mega junkets will operate in Naga2 by this year.

It did not identify the four junket operators it was referring to, but the firm said that the four contributed 70 per cent of Macau’s total VIP rollings.

“Our increasingly competitive VIP services are attracting an increasing number of junket operators, and we expect to open further junket rooms in 2019,” NagaCorp said in its report, adding that the aggregate revenue from external customers brought in through junkets contributed at least 10 per cent of the firm’s total revenue last year.

The gambling news website GGR-ASIA reported last month that a Macau gambling junket investor Tak Chun Group plans to open a VIP gaming club at NagaWorld this month.

It also reported that Suncity Group and Guangdong Group will begin their operation in NagaWorld.
https://www.phnompenhpost.com/business/ ... p-cambodia

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https://www.casinota.com/junkets-faq.html
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Re: Cambodian Casino License Boom in 2018

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One thing and it's probably the only thing I appreciate about Islamic regimes is they forbid gambling. It's the drug from hell. If someone says but it's the free market and the free choice of people to do what they want to do. Then I am fine with it if you really give free choice to people in all aspects of life as long as they don't harm anyone. But no, it's all about making people slaves of money. Burn dem casinos.
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Re: Cambodian Casino License Boom in 2018

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DrRawBlueGreen wrote: Tue Mar 05, 2019 8:03 pm One thing and it's probably the only thing I appreciate about Islamic regimes is they forbid gambling.

It's the drug from hell. If someone says but it's the free market and the free choice of people to do what they want to do. Then I am fine with it if you really give free choice to people in all aspects of life as long as they don't harm anyone. But no, it's all about making people slaves of money. Burn dem casinos.
That plus the fact that people don't go on drinking binges on Friday and Saturday nights , then phone their boss on Monday and call in sick,,, which is why Malaysia has a great future.
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
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Re: Cambodian Casino License Boom in 2018

Post by DrRawBlueGreen »

Duncan wrote: Tue Mar 05, 2019 8:22 pm
DrRawBlueGreen wrote: Tue Mar 05, 2019 8:03 pm One thing and it's probably the only thing I appreciate about Islamic regimes is they forbid gambling.

It's the drug from hell. If someone says but it's the free market and the free choice of people to do what they want to do. Then I am fine with it if you really give free choice to people in all aspects of life as long as they don't harm anyone. But no, it's all about making people slaves of money. Burn dem casinos.
That plus the fact that people don't go on drinking binges on Friday and Saturday nights , then phone their boss on Monday and call in sick,,, which is why Malaysia has a great future.
Then have a look at Iran they are probably world champion in drug consumption, initiated by the government. But of course its all ”forbidden”. People get imprisoned healthy and get released as junkies. Just don't get caught with alcohol and you can consume whatever you want. Dmt containing substances and ganja are also considered as helldrugs, but opium and ice are almost free available. That's the policy.
But Malaysia must do sth right. Having one of the best economies of the region and a relatively comfortable life standard.
“If the world was a girl, I’d stick my d..k in the ground. F..k the World.”

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Re: Cambodian Casino License Boom in 2018

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New bets
11 March 2019 By Katrina Hamlin

Cambodia’s casino king knows a thing or two about luck. Chen Lip Keong’s $6 billion flagship, NagaCorp, enjoys a monopoly in the capital, Phnom Penh. That helped his group grow net profit by more than 50 percent last year. But as the market evolves, new rules and an influx of Chinese tourists will inspire rivals to place their own bets.

Chen benefits from a head start. As an early foreign investor in war-torn Cambodia, the Malaysian tycoon won a monopoly over the capital, guaranteed until 2035, as well as a 70-year licence running to 2065. This position is enviable as visitors from China, Vietnam and Thailand flock to the city. The casino-kingpin has been ahead of the curve in other ways, too. Naga was the first casino operator to trade on the Hong Kong Stock Exchange. Shares have since risen more than 600 percent above the 2006 offer price.

A pending new casino law in the Southeast Asian nation could further help. Clarity in policy would be good for Naga, which trades at a discount to peers, also partly a reflection of the higher risks in a frontier market. Naga is valued at around 12 times forward earnings, while slower growing Macau-based rivals MGM China and Galaxy Entertainment trade at closer to 20, according to Refinitiv data.

The flip side is that clearer regulations could entice larger operators. The likes of Malaysia’s Genting might be tempted to set up shop, or invest in one of the dozens of companies that have, in recent years, secured a licence to operate outside the capital where Naga’s monopoly will continue.

That’s a worry as most punters are tourists who may prefer the resorts springing up at Poipet near the Thai border, or the seaside city of Sihanoukville. The latter targets Chinese gamblers, a crucial growth market for Naga given Cambodian locals are not allowed to bet.
https://www.breakingviews.com/considere ... ker-hands/
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Re: Cambodian Casino License Boom in 2018

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“in war-torn Cambodia”


Hmm.
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Re: Cambodian Casino License Boom in 2018

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Wooing high rollers to take a punt on Cambodia’s new gaming town
By Yi Wei Wong

Macau (MNA) – Sihanoukville province, located in the southwest coast of Cambodia, is more well-known for its online gaming industry, border casinos and former reputation as a scenic backpacker’s haven.

However, Jin Bei Group, which set up the first seven-storey entertainment complex in the area, is now trying to break new ground in what is generally considered a frontier market – 88 new casinos were registered in Sihanoukville in 2018.

iGamiX managing director, Ben Lee, told MNA that possible new regulations, which will require casinos to have a capital of US$50 million (MOP404 million) over five years, might come in force “tentatively” in September.

As a result, the expert said he believes that around 50 percent of gaming operators will “drop off” in the region.

Jin Bei’s marketing director, Victor Chong Wei Yong, said, however, that regulations would put a positive spin in the local industry, which, due to its newness, lacks stability.

“It will increase the quality of services to the customers, the stability of how the business is done here. Right now there are fly-by-night casinos that create a horrible reputation for Cambodia,” Mr. Chong told MNA.
https://www.macaubusiness.com/wooing-hi ... ming-town/
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Re: Cambodian Casino License Boom in 2018

Post by frank lee bent »

I was offered an online licensed casino run from a hotel room in Poipet for $3k a month in December as a turnkey package.
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Re: Cambodian Casino License Boom in 2018

Post by Anthony's Weiner »

DrRawBlueGreen wrote: Tue Mar 05, 2019 8:03 pm
One thing and it's probably the only thing I appreciate about Islamic regimes is they forbid gambling. It's the drug from hell.
If someone says but it's the free market and the free choice of people to do what they want to do. Then I am fine with it if you really give free choice to people in all aspects of life as long as they don't harm anyone. But no, it's all about making people slaves of money. Burn dem casinos.
Have you been to Monte Carlo or Baden Baden? If either of these is hell, then heaven can wait a while for me to show up. Free choice as long as it causes no harm would really restrict what one's options are, soda pop, McDonalds and rice have been linked to contributing to the increase in diabetes, we all know the harm that cigarettes cause, I am told pornography, video games and shopping can all become addictive. Self-control is very difficult to impose on people. I fail to see the merit of your argument, if 10% of a population is harmed is that acceptable? 20%, 50%? who would make these decisions on what is permissible? Canada has legalized marijuana but in Malaysia, one would be jailed for possession, is it because Canadians are not harmed by a toke but Malaysians go crazy with the sticky icky?
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