Australian firm bets on Bavet
Australian-listed Cell Aquaculture (CAQ) – a onetime a marine technology company – has purchased a casino on the Cambodia-Vietnam border in a bid to generate much-needed revenue after nearing bankruptcy in 2013. On May 26, CAQ announced in a statement to the Australian Stock Exchange that ...
Eddie Morton
http://www.phnompenhpost.com/business/australian-firm-bets-bavet
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
Island casino’s fate to be decided
A preah Sihanouk provincial official said on Monday that the administration would request approval from the Ministry of Environment and the National Committee for Coastal Management and Development to dismantle a Chinese casino on Koh Rong Sanloem. ...
Khorn Savi
https://www.phnompenhpost.com/national/island-casinos-fate-be-decided
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-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 ...
Investor Decries Export Tax on Cambodian Seafood
A major Hong Kong investor in Cambodia has claimed that a government duty on seafood exports is stunting the country’s fish processing industry. Hong Kong-based Sunwah Group began operating a shrimp-processing factory in Sihanoukville in 1994, and its plans in the country now include building a ...
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 ...
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 ...
ASEAN projects to receive Around 1 07 million tourists in 2015
Cambodia’s tourism minister Thong Khon said this week that ASEAN is protected to gain around 107 million international tourists in 2015 as the bloc will create the community that year. Speaking at closing ceremony of the 10th Tour Guide Training and the Opening of 11th Tour Guide Training for Phnom Penh city at ...
Bokor resort slated to bolster Kampot tourism
Kampot officials are looking to the Bokor Mountain Resort, a US$1 billion project that opens today, to drive tourism growth in the burgeoning seaside destination. The provincial Tourism Department said the number of domestic visitors to Kampot had risen 120 per cent to 338,000 in the ...
Cambodia, China's Guangxi pledge to broaden cooperation
Cambodia and China’s Guangxi Zhuang Autonomous Region on Thursday vowed to further enhance cooperation in trade, investment, and tourism for mutual benefits. The commitment was made during a meeting between Cambodian Prime Minister Hun Sen and Peng Qinghua, secretary of Guangxi Zhuang Autonomous Region’s CPC Committee, ...
http://news.xinhuanet.com/english/china/2013-06/13/c_132453081.htm
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
Aus firm buys Poipet casino
Australian-listed firm Donaco International, which currently has operations in Vietnam, has confirmed it is entering Cambodia’s already-crowded casino and gaming industry. The company announced on Friday that it had entered into an acquisition agreement to purchase the Star Vegas Resort and Club casino in Cambodia’s Poipet ...
Chan Muyhong
http://www.phnompenhpost.com/business/aus-firm-buys-poipet-casino
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