Don’t bet on elections
The house always wins, except when there’s a disputed election scaring gamblers away from the tables.
That’s the message from Entertainment Gaming Asia Inc, which operates casinos in Poipet town and Pailin province as well as supplying NagaWorld casino with slot machines.
According to the company, Cambodia’s national elections in July, the results of which the opposition party still refuses to accept, are partially to blame for losses of some $309,000 in the third quarter of this year.
“In NagaWorld, we experienced lower player traffic levels as a result of events related to the national Cambodian elections held in July 2013,”said Clarence Chung, chairman and chief executive officer of Hong Kong-based Entertainment Gaming Asia, during a conference call with investors on Tuesday. …
Mass-market income for NagaWorld climbed from $625 million in the first half of 2012 to $750 million for the same period of 2013, representing close to a 20 per cent year-on-year increase.
The positive trend could not be sustained, however. The figures from September show a rise from $342 million in the third quarter of 2012 to $366 million for the same period in 2013, an increase of less than seven per cent. …
Daniel de Carteret and Hor Kimsay
http://www.phnompenhpost.com/business/don%E2%80%99t-bet-elections
