PHNOM PENH - A Cambodian tycoon is planning to launch a US$100-million ($141.1-million) casino near the country's border with Vietnam this month to attract tourists and develop the country's entertainment industry, according to a report by Reuters.
The Titan King Casino is scheduled to open on Feb 26 in Bavet, a town in Svay Rieng province, about 120km from Phnom Penh, covering 2.5 hectares and employing some 6,000 people, its owner, Mr Kith Thieng, told Reuters yesterday.
Mr Kith Thieng, whose business interests include hotels, fast food restaurants, and a mobile phone operator, said that "most gamblers would be Vietnamese" but that he was also eyeing tourists from further afield.
Cambodia generated revenues of US$19 million from its 29 casinos in 2008, according to the Finance Ministry data.
The casino's revenues fell to some US$17 million last year which was attributed to a fall in tourist arrivals and rising border tensions with neighbouring Thailand, reported Reuters.
Most forms of gambling are forbidden in Thailand so thousands head to massive casino complexes located along the shared border.
The Titan King Casino is scheduled to open on Feb 26 in Bavet, a town in Svay Rieng province, about 120km from Phnom Penh, covering 2.5 hectares and employing some 6,000 people, its owner, Mr Kith Thieng, told Reuters yesterday.
Mr Kith Thieng, whose business interests include hotels, fast food restaurants, and a mobile phone operator, said that "most gamblers would be Vietnamese" but that he was also eyeing tourists from further afield.
Cambodia generated revenues of US$19 million from its 29 casinos in 2008, according to the Finance Ministry data.
The casino's revenues fell to some US$17 million last year which was attributed to a fall in tourist arrivals and rising border tensions with neighbouring Thailand, reported Reuters.
Most forms of gambling are forbidden in Thailand so thousands head to massive casino complexes located along the shared border.
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