Source : Khmer Times
Macau’s leading junket operator Suncity Group, a company listed on the Hong Kong Stock Exchange, has entered into a partnership with locally-registered firm Golden Sun Sky to provide consultancy services in the construction of a resort in Sihanoukville.
“The directors believe that entering into this strategic partnership agreement will expand the company’s footprint in Cambodia, in addition to the integrated resort projects in Vietnam,” Suncity said in a recent filing to the Hong Kong Stock Exchange.
Total investment in the resort, which is owned by Golden Sun Sky, is estimated at $360 million.
The resort will occupy an area of 650,000 square meters in Sihanoukville’s popular Otres Beach and will contain gaming facilities, Suncity said. The developers aim to have the resort operational by the end of 2019.
Sihanoukville is located in Preah Sihanouk province, in the country’s coast. Last year, the province welcomed nearly 2 million tourists – 1.5 million of those visitors came from overseas.
The province is a hotbed of gaming activity in the country. The majority of Cambodia’s 100 casinos are located in Preah Sihanouk.
Taing Sochet Krisna, director of Preah Sihanouk’s tourism department, told Khmer Times that tourist numbers are rising so quickly that the province is in dire need of more hotel and guesthouse rooms to meet demand.
“We are always looking for investors in the province, particularly people interested in building hotels that have at least three stars,” he said. “We need more hotels to face the rapid increase in the number of visitors to the province.”
The province now has 80 hotels and 300 guesthouses, amounting to nearly 4,000 rooms.
A draft of the Gaming Law is currently being reviewed by the Council of Jurists of the Council of Ministers.