Cambodia: Phnom Penh extends Covid-19 measures until August 6
The Cambodian capital has announced that countermeasures will remain in place until August 6.
Cambodia.- The government of Cambodia has announced that venues in Phnom Penh will have to remain closed until August 6.
Apart from NagaWorld casino, the measure includes schools, karaoke bars, nightclubs and beer gardens, resorts, museums and amusement parks, massage businesses, cinemas, theatres, fitness clubs and sports centres.
NagaWorld, the only casino resort authorised to operate in Phnom Penh, suspended operations in March after 11 staff members tested positive for Covid-19.
In June, NagaCorp, the company that operates the casino, reported that it expects to recover by 2022 as long as NagaWorld resumes operations in the second half of 2021. It said NagaCorp’s revenue could reach 40 per cent of pre-pandemic levels if NagaWorld reopened in the next few months.
NagaCorp announced plans to reduce pay and lay off employees to improve cost efficiency, which was highly criticised by labour unions.
It has also listed US$200m 7.95 per cent senior notes, which will not be convertible into shares. According to Moody’s, the notes could provide NagaCorp “sufficient liquidity” to support its cash needs “over the next 18 to 24 months”.
The group will use the funds to strengthen the group’s working capital as well as for general corporate purposes.
Cambodian authorities close the country’s borders with Vietnam
The government of Cambodia has suspended entries and exits with Vietnam in an attempt to avoid a rise in Covid-19 cases. Under new rules, Vietnamese employees that are currently in Cambodia cannot return home, while those in Vietnam cannot enter Cambodia.
There are only exceptions for patients seeking medical treatment in Vietnam and diplomats or officials under a mission at the invitation of either country’s authorities.
As Vietnamese citizens are only permitted to enter two casinos: one on the southern island of Phu Quoc and the other in Van Don, in the northern province of Quang Ninh, Vietnamese gamblers usually cross borders to enter Cambodian casinos.
