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Cambodia’s draft bill on the management of commercial gambling could help the country become a more appealing destination to international casino operators in the long run, particularly because of its proposed low tax rate on gaming revenue and a more developed regulatory framework, industry observers have suggested to GGRAsia.
At least eight casinos in Cambodia aside from NagaWorld in the capital Phnom Penh, and Star Vegas Resort and Club in Poipet, have reopened for limited operations after being shuttered due to Covid-19 countermeasures, with more to come “soon”, reported the Phnom Penh Post newspaper on Sunday, citing information from a government official.
A Cambodian government official has reiterated that casino developments are not permitted in the “area” of Angkor Wat (pictured), in Siem Reap, which gives its name to a city and province in northwest Cambodia.
Donaco International Ltd, an operator of border casinos in Southeast Asia, significantly narrowed its fiscal-year loss as of June 30, to just above AUD58.9 million (US$43.7 million), from AUD198.0 million a year earlier, even though the second half of the reporting period was affected by Covid-19.
Casino investor NagaCorp Ltd says it is interested in “IR” development in the areas of Siem Reap and Sihanoukville in Cambodia, to complement its casino complex Nagaworld (pictured), in the country’s capital Phnom Penh.
Australia-listed Donaco International Ltd, an operator of a border casino in Cambodia and another in Vietnam, says it is in the “final negotiation stages” for appointing a new chief executive.
A total of 21 casinos in Cambodia’s coastal province of Sihanoukville, among venues shuttered due to Covid-19, have petitioned the authorities for permission to resume operations, the Phnom Penh Post reported on Wednesday, citing Preah Sihanouk provincial government spokesman Kheang Phearum.
Australia-listed casino operator Donaco International Ltd confirmed in a Wednesday filing it has not yet received a Cambodian-government inspection of its Star Vegas Resort and Club (pictured in a file photo) in Poipet, which it says is necessary in order to reopen after its temporary closure from April 1, as a Covid-19 countermeasure.
Australia-listed casino operator Donaco International Ltd says it has successfully completed a share exercise it flagged earlier this month, and is raising AUD14.4 million – about US$10.3 million at current exchange rates – before costs.
The temporary suspension of casino operations at the NagaWorld complex (pictured) in Cambodia from April to July as a safeguard against the spread of Covid-19 “will hurt earnings and credit metrics in 2020,” said Moody’s Investors Service Inc, in its latest scheduled review of the resort’s owner, Hong Kong-listed NagaCorp Ltd.
Cambodian prime minister Hun Sen said on Friday that casinos across the nation would be allowed to resume operations if they met health requirements to prevent Covid-19 outbreaks at their venues.
NagaCorp Ltd, operator of a large casino resort in Cambodia, is proposing an international offering of notes to “investors in Asia and Europe” against the backdrop of a pause in its gaming operations amid the Covid-19 pandemic.
Australia-listed casino firm Donaco International Ltd confirmed in a Tuesday filing a seven-day extension to the temporary shutdown of its gaming operations at the Aristo International Hotel in Lao Cai, Vietnam. An initial 15 day shuttering amid the Covid-19 pandemic had run until April 15.
Donaco International Ltd says payments linked to settlement of a long-running dispute with people that sold the firm Star Vegas Resort and Club (pictured), a Cambodia casino complex, are to be deferred pending approval by a key lender to Donaco, Taiwan’s Mega International Commercial Bank Co Ltd.
Australia-listed casino operator Donaco International Ltd confirmed in a Tuesday filing that the casino at its Star Vegas Resort and Club in Poipet, Cambodia, would close on a “temporary” basis, in line with a Cambodian government order covering all such facilities in the country, and which takes effect at 11.59pm on Wednesday (April 1).
Donaco International Ltd, an Australia-listed boutique operator of casinos in Indochina, has announced it is closing “most” of its Star Vegas Hotel.
Donaco International Ltd, an Australia-listed boutique operator of casinos in Indochina, says it is suspending — for two months — all litigation between the company and the former owners of its Star Vegas Resort and Club business in Poipet, Cambodia.
A senior Cambodian police official reportedly said on Tuesday that any person or entity that defied the just-imposed ban regarding online gambling services being based in that country would be labelled “gangsters” and dealt with accordingly.
Hong Kong-listed casino services firm Macau Legend Development Ltd says it has agreed to extend the deadline for acquiring a company owning some Cambodian land that could eventually house a Macau Legend-branded “integrated resort”.
Cambodia’s casino sector still represents a risk for the country in terms of money-laundering prevention and combatting the financing of terrorism. That is according to the Financial Action Task Force (FATF), a global financial watchdog based in Paris, France.
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