Queenco Leisure International, a developer and operator of casinos and resorts, is going ahead with its plans to open a casino in Sihanoukville, Cambodia.
The company, which holds a 38.5 per cent stake in Club Hotel Loutraki in Greece, has formed a joint venture firm with a local partner to renovate, improve and extend the Holiday Palace Hotel to transform it into a 130-machine casino and a 60-room hotel.
The company’s local partner, which will hold a 30 per cent share in the joint venture, will re responsible for acquiring government approvals and licences, including a casino licence.
To date, Queenco has provided funding of $720,000 towards the project.
