Tourism up 7 percent from 2013
Cambodia’s casino industry contributed US$25 million to the government purse in 2014, a year-on-year increase of 12 percent, reports GGRAsia.
Director General Ros Phirun, of the finance ministry’s financial industry department, told Cambodian Television Network the industry “not only generated revenue for the state’s coffer, but also contributed to developing areas along the border.” All but one of Cambodia’s 59 casinos are located along border areas, except for NagaWorld, which is located in the capital of Phnom Penh. Gross gaming revenue at NagaWorld grew 23 percent year-on-year in 2014, to US$381.4 million, said the venue’s operator NagaCorp Ltd.
Phirun projects more moderate growth of 4 percent this year, to US$26 million.
Last year, 4.5 million people visited Cambodia, up 7 percent from 2013, according to data from the country’s Ministry of Tourism reported on CalvinAyre.com. Twenty percent of those came from Vietnam, and 12.4 percent from China. Visitors from China increased 21 percent year-on-year to 560,335 visitors in 2014.
The Cambodian government may be considering legislation that would allow citizens to play in the country’s casinos, a move that also could motivate foreign investors to invest in the market. According to the current law, enacted in 1996, a Cambodian citizen can only play if he or she holds a foreign passport.
In January, boutique casino operator Donaco International Ltd. agreed to acquire the Star Vegas Resort and Club casino property in Poipet, located on the Cambodia-Thailand border, for US$360 million.
