Cambodia

Queenco Leisure International Ltd. generated  €500,000 ($654,000) in gross gaming revenue from its new casino in Sihanoukville. The London-listed company posted earnings before interest, tax, depreciation and amortization of €400,000 from the casino, unchanged from a year earlier, after attracting 4,000 visitors, with a gross win per visit of €149. It has a 70 percent stake in the casino. Net revenue doubled to €200,000. The company said it had hired an agent to market 9 hectares of land it holds in Cambodia to raise funds.

 

 

As reported in our very first eBrief, Poipet has a number of casinos catering to customers from Thailand and itinerant workers. In addition to table games, the casinos are featuring broadcasts of live football matches and taking bets on games from India to Europe. Sports betting is illegal in Cambodia and Thailand, in between which Poipet sits, but authorities are turning a blind eye to the activity at the moment.  Most of the soccer bets in Poipet are small, reflecting average wages there and are not linked with match-fixing, but everyone there knows it goes on.

According to a Forbes report, Chen Lip Keong has become a billionaire for the first time, on the back of the stellar performance of NagaCorp (3918:HK), the Hong Kong-listed company that owns and operates NagaWorld, Cambodia’s biggest casino. Since Chen debuted on Forbes’ list of ‘Malaysia’s Richest’ in 2009 with a net worth of USD $195 million, the share price of NagaCorp has gone up by more than 500 percent, making it one of the Exchange’s best performers for the period.

 

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