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Cambodia will launch the opening of a $100 million casino this month to help the impoverished country develop the fast growing entertainment industry and rebound after the global economic crisis.
Royal Group will open the doors of the Titan King Casino on February 26 near the country’s border with Vietnam in Svay Rieng province.
“Most gamblers will be Vietnamese but my goal is also to attract people from other countries,” owner Kith Thieng said. “I want to promote the fact that Cambodia has enough places for entertainment.”
The four star, eight story gaming complex will be the ninth casino built in the area in recent years and its opening comes after the recession caused some of Vietnam’s most popular casino resorts to shut down because of falling revenue.
In 2008 Cambodia generated $19 million in revenue from its 29 casinos, however in 2009 revenue fell to $17 million, with the decline attributed to a fall in tourist arrivals and rising border tensions with neighboring Thailand, according to data from the Finance Ministry.
Thieng added that he hopes that Chinese, Malaysian and Vietnamese customers would be attracted to the new resort and Titan King Resort would cooperate with other casinos to promote the industry to foreign visitors.
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