Malaysian hotel operator WA Hospitality has revealed plans to enter the casino and hospitality market of Cambodia through a partnership with local real estate developer Won Majestic
The Malaysian company has signed an agreement to operate Won Majestic Casino Hotel & Resort in Sihanoukville, Cambodia. The property is currently under development and is slated to open doors in the first quarter of 2021.
The Won Majestic complex will feature a five-star hotel, 270 apartment units, 313 grade A offices, retail spaces, a 2,500-square-meter casino, food and beverage outlets offering a wide variety of food – from Chinese to Western cuisine, and a sky bar overlooking the city of Sihanoukville. With its 28 stories, the resort’s building will soar 120 meters above ground.
WA Hospitality was established in 2015 as a subsidiary of UK travel and hospitality group World Avenues. Its agreement to operate the Sihanoukville resort represents the first international contract won by WA Hospitality.
Commenting on their entry into Cambodia’s hospitality market, WA Hospitality Executive Director Ally Bhoonee said that Won Majestic will not be the “typical casino hotel” and that their concept for the property involves offering “entertainment and excellent personalised service.” The executive went on to say that they expect 80% hotel occupancy during the resort’s first year of operation and that they will be targeting upmarket free independent travelers from China and Southeast Asia.
Sihanoukville – the Main Driver of Casino Growth in Cambodia
Sihanoukville, part of the Preah Sihanouk Province in the southwestern part of Cambodia, is home to 88 casinos, according to recently released government data. The city and the province have proved the main drivers of growth in the country’s casino gaming industry in recent years, mainly due to a surge in the number of visitors from China to the coastal area.
According to recent data by Cambodia’s Ministry of Economy and Finance, the nation issued 52 casino licenses in 2018, up 50% from the previous year and bringing the total number of permits for the operation of gambling venues to 150.
It also became known that a significant number of the licenses awarded during the twelve months ended December 31, 2018 were for casinos in the Preah Sihanouk province.
Licensed casino operators are required to pay an annual license fee of $40,000 to the government of the Southeast Asian nation and to contribute a portion of their revenue. Government officials have previously said that they expected gaming revenue to reach $56 million in 2018, but it is to be seen whether that target was indeed reached as the Finance Ministry, tasked with overseeing the local casino industry, is yet to compile its annual financial report.
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