Casino-Funded Election Committee Office Breaks Ground
The National Election Committee (NEC) broke ground yesterday on a $12-million tower being funded by the casino company NagaCorp that is set to take more than two years to complete and has drawn concern from election groups. At a ceremony that took place on National Assembly ...
Sand dredging hits eco-resort
An enormous sand dredging operation in Koh Kong province has escalated, a resort owner said yesterday, with boat crews allegedly trespassing onto private land and digging sand within hundreds of metres of the complex. Janet Newman, the owner of the Rainbow Lodge eco-tourism resort, said ...
Krabey island resort 70% complete
A $20 million resort being developed on Krabey Island off the coast from Sihanoukville is about 70 percent complete and will open on schedule in mid-2017, according the Ministry of Tourism. Tourism Minister Thong Khon told Khmer Times that the island development was progressing as planned, ...
Sok Chan
http://www.khmertimeskh.com/news/29359/krabey-island-resort-70--complete/
Naga casino to buy aircrafts to fly Chinese gamblers to Phnom Penh
Cambodian casino operator, Hong Kong-listed NagaCorp, is trying to reach deals in order to fly gamblers from Macau and mainland China to its gaming resort in Phnom Penh, according to media reports. Hong Kong media quoted NagaCorp chief financial officer, Philip Lee Wai Tuck, as ...
The Cambodia Herald News Staff
http://thecambodiaherald.com/cambodia/detail/1?page=13&token=Yjk2MWM1NWYyYjY
NagaWorld Workers on Strike After Firings
More than 500 workers from Phnom Penh’s NagaWorld Casino demonstrated on Monday, in what was their fourth straight day of strike action in front of the Casino over wages and the firing of four staff members Sok Narith, deputy secretary general of the Cambodian Tour­ism and ...
http://www.cambodiadaily.com/news/nagaworld-workers-on-strike-after-firings-11761/
Naga World Boss Acquires Billionaire Status
The Malaysian founder of Phnom Penh’s only licensed casino, Chen Lip Keong, is now a billionaire after seeing his fortune multiply in size in recent years, according to Forbes magazine. The magazine, which calculates the wealth of individuals using company data, published a list of the ...
Jimei Intl Cambodia plan likely in Sihanoukville: analyst
The ‘entertainment resort’ that Hong Kong-listed casino junket investor Jimei International Entertainment Group Ltd wants to develop in Cambodia is likely to be located in the coastal resort town of Sihanoukville (pictured), on the Gulf of Thailand, says Union Gaming Securities Asia Ltd. ...
Newsdesk
http://www.ggrasia.com/jimei-intl-cambodia-plan-likely-in-sihanoukville-analyst/
Coffee beans are on the boil
Coffee plantations in Cambodia’s northeast are struggling to keep up with rising international demand for the increasingly lucrative beans, farmers and traders said. Orders for Cambodian-grown coffee beans from countries such as Japan and Korea as well as domestic demand has increased rapidly, while prices have ...
http://www.phnompenhpost.com/index.php/2011072950714/Business/coffee-beans-are-on-the-boil.html
Koh Rong airport plans foggy
Plans are in place for a new $10 million international airport on Koh Rong island, but questions remain as to when construction would commence and when funding would be available. Designs for the roughly 7,200-square-metre airport terminal, which will consist of Khmer- and resort-style architecture, were ...
http://www.phnompenhpost.com/2013040564911/Business/koh-rong-airport-plans-foggy.html
Casino tax revenue rises
The government collected $48 million from the casino industry last year, a rise of about 40 per cent compared with 2015. Ros Phearun, a deputy director-general of the Finance Ministry’s financial industry department, said that along with an effort by the government to improve tax revenue, ...
May Kunmakara
http://www.khmertimeskh.com/news/36411/casino-tax-revenue-rises/
Seized Wood Reported Stolen From R’kiri Park
Seized and then sold wood has apparently been stolen from the Try PHeap Import Export Company which bought the lumber. The wood amounts to approximately 42 cubic meters and is priced at over $37,000. Blame for the theft is being cast everywhere including on the ...
Mounting Foreign Concerns as 2013 Budget Plans Under Way
WASHINGTON DC – Seven opposition lawmakers say they have found new ways to reduce the national debt and are requesting that the National Assembly’s finance committee meet with them before drafting the 2013 national budget. The lawmakers, from the Sam Rainsy and Human Rights parties, say ...
Smart rolls out 4G network
Mobile internet speeds in Cambodia are ratcheting up a notch. Smart Mobile, the country’s second largest operator by subscribers, is making 4G LTE internet available to customers this week, the company announced yesterday during the launch of the service at NagaWorld Casino. Thomas Hundt, CEO of Smart, ...
Eddie Morton
http://www.phnompenhpost.com/business/smart-rolls-out-4g-network
Plans shown for eco-resort in Siem Reap
Luxury hotel developer Song Saa Resorts has unveiled a plan to transform 400 hectares of land in the Banteay Srei district of Siem Reap province into an eco-tourism Resort with an initial investment of $3 million, according to a release on the Ministry of Environment’s ...
Hor Kimsay
http://www.phnompenhpost.com/business/plans-shown-eco-resort-siem-reap
Naga Corp Reports 23 Percent Profit Growth
NagaCorp Ltd., the Hong Kong-listed company that runs Phnom Penh’s only licensed casino, saw its profits grow by 23 percent in 2012, the firm said in an announcement. In its financial results for the year, released Wednesday to the Hong Kong stock exchange, the company that ...
http://www.cambodiadaily.com/business/nagacorp-reports-23-percent-profit-growth-9646/
Casinos rake in $2 billion
Cambodia’s casino industry generates close to $2 billion in revenue a year and accounts for nearly 40 per cent of the Kingdom’s tourism revenue, a central bank official said yesterday.Chea Serey, director-general of the National Bank of Cambodia, told a workshop on statistics in international ...
Sor Chandara
http://www.phnompenhpost.com/business/casinos-rake-2-billion
EGA reports Cambodian casino losses
Nasdaq-listed Entertainment Gaming Asia (EGA) reported a net loss of $6.7 million for the fourth quarter of 2016, compared with a loss of $2.7 million in the same time in 2015 largely due to the cancellation of its operations in Cambodia, the company said in ...
Kali Kotoski
http://www.phnompenhpost.com/business/ega-reports-cambodian-casino-losses
Casino owner’s woes persist
The share price of Cambodian casino owner Entertainment Gaming Asia has fallen below the minimum requirement of the Nasdaq Stock Market, threatening the gaming company’s US listing, according to a statement posted on EGA’s website last week. EGA has been given 180 days – until October ...
Eddie Morton
http://www.phnompenhpost.com/business/casino-owner%E2%80%99s-woes-persist
Casino bill likely this year
The National Assembly will likely approve a casino-management bill before the end of the year, which is aimed at doubling gambling revenues and bringing the industry on par with international standards, said a senior official from the Ministry of Economy and Finance. Ros Phearun, deputy director ...
May Kunmakara
http://www.phnompenhpost.com/business/casino-bill-likely-year
Expansion approved for Bokor National Park
New resorts, restaurants and casinos could be coming to Bokor National Park after environment officials endorsed an “improved” plan for the mountain along with oknha Sok Kong’s hotel company, according to the government’s news agency. ...
Daphne Chen
http://www.phnompenhpost.com/national/expansion-approved-bokor-national-park