EGA targets Cambodian casino expansion

The casino comprises 670 gaming machine seats, which it owns and jointly operates with NagaWorld as part of a revenue sharing agreement.

"Despite the economic downturn, our operations at NagaWorld have experienced dramatic growth," CEO Clarence Chung told InterGaming, "with our gaming participation revenue from these operations climbing to us$ 2.6 million in the second quarter of 2010 from us$ 1 million in the same period last year driven by an increasing installed base of machines and improving average net wins per unit.

"Despite the increasing installed base, the average net win per day per machine is over us$ 200 and we attribute this strong performance to several factors, including targeted marketing efforts to build strong customer loyalty, the right machine mix, the benefits of the closure of all slot clubs previously operating in the Phnom Penh area early in 2009, solid and improving tourism and favourable macroeconomic factors such as increasing foreign investment resulting in an expanding industrial base."

In May this year, EGA was granted another casino licence by the Cambodian government and the company acquired a 30,000 sq.m site strategically located near the Vietnam border in the province of Takeo, upon which it plans to build a new casino resort. The project is progressing well, with discussions with architects and project management teams under way.

"The Cambodian gaming market has historically been centred in the capital city of Phnom Penh," Chung continued. "However, more recently there has been increasing casino development in border areas, which capitalise on the attractive Thai and Vietnamese feeder markets.

"We are actively seeking additional casino development projects in the Indo-China region, which will leverage our strong market presence, relationships and the Dreamworld brand name. Our goal is to become the leading regional casino operator in select emerging gaming markets in this region."