In Cambodia, 143 gaming operators have applied for a license to operate, with just 13 approved so far. Ros Phearun, secretary general of the Commercial Gambling Management Commission of Cambodia, told GGRAsia that the industry—which once included 200 licensed operators—has suffered due to Covid-19, but is on the recovery trail.
“The law on commercial gambling management requires a minimum capital investment, plus the Covid-19, caused some of the license holders (in 2021) to decide not to reapply in 2022,” Phearun said in an email to the news outlet.
“Almost all casinos continue closed” when the pandemic hit, Phearun wrote. “In 2022, 143 have reapplied. They are in the process of licensing,” as required on an annual basis by the government.
Australia-listed Donaco International Ltd. reopened its Star Vegas Club and Casino at Poipet, on Cambodia’s border with Thailand, on June 18. The property was the firm’s top performer before the pandemic, when it was forced to shut for more than two years.
“Donaco confirms that the government of Cambodia and the relevant local authorities have lifted the temporary closure of casino operations in the Banteay Meanchey province, where Star Vegas is located,” stated the casino firm on the reopening. Since then, according to the Phnom Penh Post,
Donaco has continued “prudent cost-control strategies” that began in 2020.
“We are delighted to put a prolonged period of Covid-19 disruptions behind us with the reopening of Star Vegas and the return to full-scale operations on the horizon,” said Donaco Non-Executive Chairman Porntat Amatavivadhana.
“The Cambodian border with Thailand has also reopened, which has traditionally been where the vast majority of Star Vegas’ customers originate from.
“In tandem with favorable macroeconomic conditions, we will maintain our focus on prudent control of corporate and operation costs. Of course, it will take some time before operations return to how they were before, but these external factors are extremely encouraging for our business,” Porntat added.
NagaCorp Ltd., operator of NagaWorld, Cambodia’s largest gaming property, told GGRAsia last month that it planned to launch at the venue a 20-table gaming area aimed at “premium players for mass market”, either in “late third quarter or early fourth quarter” of this year.
Last week, the Post reported that first-half gaming revenues in Cambodia had reached just 8 percent of the full-year goal, set at KHR174.2 billion (US$43.55 million). Most of that revenue had come from lotteries and raffles. Phearun said that an improvement in industry-wide casino gross gaming revenue was dependent on the recovery of the country’s tourism industry.
In 2020, foreign tourism plummeted almost 85 percent. Last year saw a welcome rebound, with almost 82,000 Thai tourists visiting Cambodia, the highest travel group, followed by China and Vietnam.
