SV International Sdn Bhd states on a promotional video it received the approval from Cambodia’s Council of Ministers to develop hotels and casinos in the Asian country.
Malaysia.- On a promotional video, Malaysian company SV International Sdn Bhd expresses it has the approval to develop hotels and casinos in Sihanoukville, granted by Cambodia’s Council of Ministers.
Yesterday (Monday) and according to the Cambodia Daily newspaper, Ros Phearun, a spokesman for Cambodia’s Ministry of Finance, confirmed the government approved SV International’s initial plans for a project in Sihanoukville, although he added that the company had not yet applied to the ministry regarding casino licensing for the newly announced projects nor provided details of the developments.
Alan Lim, SV International’s founder and chairman, was quoted by the newspaper stating the planned developments included casinos, online casinos, hotels and pawnshops. The firm’s first project is the SV World casino, which would be developed in a former hotel. The renovation is expected to start in April and completed by September. This information is confirmed in the video, where it is explained that the firm will also purchase existing hotels in the area for renovation turning them into gambling and lodging facilities. To conclude, the video said that V International hopes to acquire “in the next three to six months its second casino license” in Cambodia.
Cambodia does not currently have a gaming law, but Mr Phearun was quoted in February saying it might introduce such legislation this year. Furthermore, Cambodia has already issued licenses for land-based casinos and some venues have requested permission to include online operations.