While the gambling industry is currently focused on the potential development of casinos in Japan, a little resort town located on the coast of Cambodia is rapidly becoming the fastest-growing gaming jurisdiction in the world. The name of the town is Sihanoukville.
Sihanoukville is a coastal city and popular tourist spot situated on the Gulf of Thailand in the southwestern region of Cambodia. Backpackers have been attracted to it for a considerable time due to its unspoiled beaches and affordable lodging options. Additionally, it has functioned as a hub for gambling Betinexchange and tourism for both Thai and Chinese visitors.
Currently, there are around 17 operational casinos located in Sihanoukville’s tourism corridor, specifically on or around Victory Beach, Independence Beach, and Ocheteaul Beach. As of December 2017, a total of 27 casino licenses have been given. In 2015, there were a total of nine licenses available in the market.
Due to a prohibition on gambling for Cambodians at the country’s casinos, these establishments depend only on foreign visitors. The currently operational casinos are typically of modest size and vary in quality from one and a half stars to three and a half stars. Several recently obtained licenses seem to be specifically for live-dealer online casinos.
Live-dealer online (LDO) gaming is a combination of traditional gambling with internet wagering, available at casinos in Cambodia and the Philippines. Inside the casino, there is a designated area for table games that is exclusively for customers who want to wager from distant locations, presumably in other countries. The tables are furnished with specialized illumination and high-definition cameras. On the LDO website of a casino, a visitor has the ability to view the live video feeds of all the dealers and choose a certain table to participate in. These online gamblers can also witness casino patrons strolling in the background, providing them with additional assurance that they are participating in a real-time game.
After choosing a table and placing a stake online, the dealer starts the game. Customers witness the result of the games on their computers or mobile devices. Although the bet is placed through the internet, LDO enables clients to compete against another individual rather than a computer, and observe the immediate result of each game.
Although there has been a recent increase in the number of Live Dealer Online (LDO) options available at the town’s casinos and purpose-built casino studios, the future of Sihanoukville lies in physical properties, specifically brick-and-mortar establishments. This is where the most significant growth is occurring. Emerging on the coast are a minimum of six tall buildings that combine residential, commercial, and entertainment purposes, including condominiums, hotels, and casinos. Additionally, there are at least six more projects in different phases of progress.
The magnitude of these properties is significantly distinct from existing commercial structures, which primarily consist of low-rise buildings adjacent to uneven roads. These recently initiated projects are colossal, high-density/high-rise constructions, reaching heights of up to 47 floors. The developments consist of hotels, residences, retail, and casino. Notable examples of huge accommodations are the XiHu International Hotel, which offers 508 lodging keys, the Blue Bay, which has 1,400 condominium apartments, the Royal Bay View, which boasts 1,344 condominium units, and Sunshine Bay, which has 900 units. Each of these projects will include a casino, however none of them will be operated by big gaming companies. The current hotel and condominium buildings seem to be specifically constructed as financial opportunities for individuals who own second homes, with a primary focus on attracting buyers from China.
Cambodia’s limited gaming regulatory monitoring has historically discouraged international casino operators, who want a stringent regulatory regime. It is possible that this situation could soon undergo a transformation. The Cambodian government acknowledges the significant contribution that casino development, specifically targeting international visitors, can make to the country’s economic expansion. An illustrative example of the significant influence that a single integrated resort, such as NagaWorld in Phnom Penh, may have Mahadevbook online on a country’s economy. In 2016, NagaWorld accounted for 1.2 percent of the nation’s total GDP and constituted 22.7 percent of the country’s tourism sector GDP. Additionally, it has a workforce of 8,600 individuals, with the overwhelming majority being Cambodian. The central government has acknowledged that casino development can have a significant impact on nation building, as evidenced by the success of NagaWorld.
The government is enhancing regulatory control and tax policy to promote the growth of the casino business. Anticipated to materialize in the near future, these novel regulations are projected to be introduced later this year. The Cambodian Finance and Interior ministries have written a gaming law that has been submitted to the prime minister’s cabinet for approval. The proposed legislation would grant the government the power to establish an entity responsible for evaluating the internal financial regulations of Cambodian casinos, fostering the prevention of money laundering, and deterring other illicit activities. In addition, the legislation would incorporate a nominal levy on gaming earnings, which would further stimulate the expansion of the sector.
Sihanoukville faces several obstacles that could prevent it from becoming a prominent gaming hub in the region. Accessing this location can be challenging. The road infrastructure need upgrading. The village is served with a small airport with a single runway that can accommodate A-320/737 aircraft. Due to the lack of a parallel taxiway, aircraft must perform a turnaround maneuver upon landing in order to reach the terminal. This restricts the quantity of flights that can arrive at any specific time of day. Although the air terminal is capable of handling international arrivals, its capacity is restricted. The terminal is presently undergoing a moderate expansion, which is expected to reduce the existing congestion.
It remains to be seen if there is sufficient demand for lodging and second home ownership for all of the supply that is currently under development, and what impact it will have on gaming revenue potential. Access to the local airport is restricted to commuter flights originating from Phnom Penh and Siem Reap, as well as a limited number of aircraft from other international locations. Nevertheless, Sihanoukville is a market that deserves the attention of the gaming sector.
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