Growing tourism and casino industry in the formerly war-torn country is making headlines in the business world.
The Malaysian commodities provider Minitech Resources is in talks to provide construction and raw materials for a casino and resort project in nearby Cambodia. The company is recently one of the most successful in the country and hopes to capitalize on the growing tourism industry in Cambodia.
On Monday Minitech closed as the most traded company on the Bursa Malaysia stock exchange. It was the company’s best performance in seven years, according to Chin Boon Long, who owns an 11 percent stake in the company. While this may not look like gambling news, it says a lot about how the industry in trending in Southeast Asia.
Cambodia’s casino boom provides opportunities for regional companies
While Cambodian gambling laws prohibit locals from gambling, its casino industry is open to foreign business travelers and tourists. Thousands of people enter everyday from neighboring countries, creating a burgeoning demand for gaming.
In addition to the famous NagaWorld casino which opened in 1994, numerous resort casino projects have sprung up in recent years. While not much has been said about the reported deal with Minitech, it is widely believed that the casino will be operated by a Chinese firm.