Cambodia grows with casinos
Cambodia became a potential casino market as new investors have landed in the country.
Cambodia.- National casino market keeps growing, showing signs of the potential of the Cambodian industry. According to an article by AGBrief, based on Phnom Penh Post’s information, the gaming sector has added 79 licenses in the last few weeks. Cambodia has been announcing constant rise among its gaming revenues.
“Casino companies continue to flow into Cambodia with a marked increase in Chinese-owned casino operations recently,” revealed Ros Phirun, deputy director of the finance industry department at the Ministry of Economy and Finance to the on Phnom Penh Post, as AGBRief reported.
Based on last Wednesday’s official statement, most of the 79 new casino licenses will be invested in Preah Sihanouk province of Cambodia. In general, gaming venues are located near country borders to further expand the business with foreign players.
According to the national government, gaming industry’s tax revenues in 2016 reported a growth of 40 percent due to improved policies on control and regulation over casino and betting operations. The results were obtained from the operation of 77 authorised casinos.
Furthermore, casino developer Virtue Resources Corp announced the construction of an upcoming US$200 million casino resort in Cambodia neat the border crossing with Vietnam. The Empire World City casino resort will be located in a 50 hectare land.
