Elixir Gaming Technologies has been granted a casino licence by the Cambodian government and is planning to build and operate a casino and hotel in the Takeo Province near the border with Vietnam.
The project, which is named Dreamworld Casino and Resort, will include a casino and hotel over seven acres of lands. The initial phase of the complex is expected to cost approximately $10m.
The 54,000sq.ft casino will feature 150 electronic gaming machines and 20 table games, while the hotel will boast 50 rooms. Both are expected to be completed in the fourth quarter of 2011.
Clarence Chung, chairman and chief executive officer of Elixir Gaming, commented: "In an effort to better capitalise on the growth opportunities that exist in our target markets and enhance long-term returns, we have developed a two-pronged approach to our growth strategy for our gaming operations as the provider of gaming machines on a participation basis and as a casino owner and operator in emerging markets in Asia.
"The owner and operator approach allows us the potential for higher long-term incremental returns on our operations given the ability to collect 100 per cent of the net win compared to 20-25 per cent as per our existing participation contracts. In addition, this extension of our gaming operations provides us the ability to leverage our established presence and goodwill in this market and increases our long-term control of our operations.
"As a border casino, Dreamworld will be strategically positioned to capitalise on the attractive southern Vietnam and greater Phnom Penh feeder markets. We intend to leverage our marketing expertise to make Dreamworld a destination location for the mass market players in the area."
