Cambodian Casino License Boom in 2018

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Cambodian Casino License Boom in 2018

Post by CEOCambodiaNews » Thu Feb 28, 2019 12:17 pm

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 » Tue Mar 05, 2019 7:39 pm

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

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

Post by DrRawBlueGreen » 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.
“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

Post by Duncan » 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.
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 » Tue Mar 05, 2019 8:39 pm

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.”

“Borders do not make us safe rather they keep us as slaves”
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Re: Cambodian Casino License Boom in 2018

Post by CEOCambodiaNews » Wed Mar 13, 2019 8:36 am

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

Post by davegorman » Wed Mar 13, 2019 11:45 am

“in war-torn Cambodia”


Hmm.
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