Big Las Vegas Developers Sought For New Cambodia Casino

via Khmer NZ

July 29, 2010

Posted By April Gardner

Staff Editor, CasinoGamblingWeb.com  

To build a successful casino that can compete with the top casinos in Asia, name recognition is needed. For a South Korean developer, that means going after some of the biggest gaming operators based in Las Vegas.

Intercity Group has plans of building a $400 million casino in Cambodia, and the company is looking for potential investors. Two of those investors are MGM Resorts International and Harrah's Entertainment, two gaming giants.

MGM has plenty of experience in Asia with casino properties in the biggest gaming destination in the world, Macau. Harrah's has no presence in Asia, and a casino in Cambodia would give the company a way to compete with Macau casinos.

Intercity is pinning their hopes of success on the cheaper area of Cambodia. The company's Vice-President, James Cho, believes that some gamblers will want to stay away from the big lights of the casinos in Macau and Singapore. The casino plan for Cambodia, if carried out, would make the property the biggest casino outside of Macau and Singapore.

The casino project will be massive, with three hotels, a water park, and three golf courses planned. While Cambodia may be cheaper than the other Asian areas, there will be nothing cheap about visiting the Bellus Angkor Resort & City. World class golf course developer David McLay Kidd will develop the courses.

The credit market has still not fully recovered from the global economic recession. Finding funding for the project may prove to be difficult for the Intercity Group. Currently, the company has not revealed how much of the $400 million they have already secured.