Cambodia – Queenco looking for investment in CambodiaBy Phil - 22 September 2014
Queenco Leisure International, the owner of Queenco Casino in Sihanoukville is looking for investors to expand its operations in the seaside Cambodian town.
Yariv Lerner, CEO of Queenco Leisure International, said the company is seeking investment to develop a 3,000-room, 5-star gaming resort on nine hectares of land. Having suffered financial losses of about $1.18m, the company may need to sell the land.
“The company would like to develop a new tourist project on a nine hectare land it owns in Sihanoukville, which is located near the current Cambodian project,” Mr. Lerner explained. “However, due to the company’s cash flow distress, it may need to sell this land. Indeed, the company’s board of directors resolved in February 2013 to offer for sale the company’s nine hectare land in Cambodia, if needed to enable the Company to meet its obligations.”