Since we now have a clear view of actual performance in these new Dreamland boutique casinos, the iHub Spamnation Army cannot preach their pie isn the sky - because REALITY now a louder and more compelling voice. I will be interested to see how these large slot parlors perform.
My only objection to the new Yahoo format is the inability to post a link to 3rd party articles or research - but if that is the price I have to pay to eliminate spammers it is probably a good trade.
(Continued from previous post)
...Mr Prak Vuthy noted that beyond Siem Reap, Sihanoukville was the most likely place to develop tourism. The seaside town already has an international airport but it serves just a few domestic flights from Phnom Penh and Siem Reap. There are plenty of hotels in the four to three-star categories and even a casino as well as deep sea port.
“The main clients at the beach resorts are Scandinavians. We would like to attract more tourists from Russia. We have been trying to get air links from Russia, hopefully scheduled services, not just charter flights,” he said.
The government has plans to develop an airport at Kampong Chnang which is about 60 km from Phnom Penh which could open as early as 2020 and be the new international airport for the capital.
The northeast which is a designated area for ecotourism, due to its rich natural assets – mountains and rivers – needs an airport to serve tourism and economic growth, but that is on the back burner.
Sihanoukville hosts a sea festival and in the northeast along the Mekong River a river festival is under consideration. The two festivals will run alternate years.
This year the Ministry of Tourism expects tourist arrivals to reach 4 million, up from 3.5 million in 2012. It projects 7 million visits by 2020.
At the present market share ratio, 4 million of those visits would go to Siem Reap and the balance through Phnom Penh the capital.
June 7, 2013 by Rapeepat Mantanarat
Filed under Cambodia, News
BANGKOK, 7 June 2013: Cambodia is planning to start its own annual travel mart possibly as early as 2014 according to ministry of tourism officials, Thursday.
Ministry of Tourism, marketing and promotion office chief in charge of ASEAN markets, Prak Vuth, who was attending the Thailand Travel Mart, said the ministry was studying options.
“The event will have to be annual, a trade show for international tour operators…We were thinking to hold it end of this year but that is not be possible because we have the sea festival organise too.”
He said the focus of a mart would concentrate on promoting just Cambodia to international trade visitors, unlike Thailand’s TTM and Vietnam’s ITE that seek to establish regional platforms as gateway events.
Pacific Asia Travel Association will host its annual travel mart in Siem Reap in September 2014, the first time a major trade show has been hosted in the World Heritage town.
Siem Reap is the main centre of tourism for Cambodia because of its ancient temples. Around half of the visitors to the country will visit Angkor Wat. But the country really needs to shed light on other areas to spread the economic benefits of tourism.
Most of the country’s tourism earnings flow into the wallets of a few investors, government, military officials and society’s elitist old wealth families. Very few of the tourism dollars filter through to community coffers.
However, there are some non-government organisations and concerned government officials who are attempting to address the imbalance in tourism and a failure to spread tourism dollars through the an economy economy dominated by agriculture....
(Continued next post)
That non-payment of fairly won jackpots only applies to 3 models of EGMs...
'Jackpot Payment Weasel'
'Who Wants to be a Millionaire? (NOT!!)'
Yes, Chung took EGT off life support, but EGT is still in Intensive Care; critical but stable. Until we can show organic revenue growth that makes it all the way to the bottom line AND develop new properties at the same time....we will stay under 3 bucks even with another hype session....hype only works when the revenue potential is unknown...we now have a pretty good idea what these casinos can generate...and we can get an even BETTER idea if management ever separates EGM WUD from Table WUD of our Dreamland properties in eh 10Q/10K.
Kampot was the only project listed as "under development" in the April 2013 presentation. 14 Tables and 25 EGMs....another Boutique Casino leven smaller than Pailin. "We presently intend to begin full construction efforts on Dreamworld Casino (Kampot) in the second half of 2013. " Expected revenue impact? Marginal.
Takeo is now pretty much just a footnote in the 10K: "We also own a parcel of land with total area of approximately seven acres (30,000 square meters) in the Takeo Province of Cambodia near the Vietnam border and were granted in-principle approval to build and open a casino-hotel there by the Cambodian government. At the present time, we do not expect to commit significant capital to the project on this land in order to divert our available capital to the development of Dreamworld Club (Poipet) and other ongoing projects, which we believe will offer greater short and medium-term return potential. Our future development plans for this land will be dependent on our available capital and local market conditions at that time"
Next known significant EGT event is not until early/mid-August when EGT reports Q2...Until then....zzzzzzzzzzzzzzzzz
If we lose NAGA, imagine what our net profit and PPS would plummet to if we lost ALL of our highest revenue produicing machines (and a significant % of active inventory).
At that point we would probably drop below 1.00 and get into touble with NASDAQ. Personally, I do not want to contemplate that thought until I see how these other venues produce when firing on all cylinders.
Purgatory means we have an EVEN LONGER wait before making it into, "iHubs 7/8 dollar Heaven". We will NEVER see the pearly gates of PPS Bliss if we continue to generate a -.08 EPS .
Now we need to do ~ +.08 EPS just to get to zero for the year and will be relying on Q3 and Q4 to keep their nose above the waterline to end the year on the + side
BTW Chinese New Year was in Q1 so In spite of the NAGA strikes, etc. THIS was the Q we needed to be the big driver
The reviews I posted came from Trip Advisor. Tried to find a balance between positive and negative since I cannot post links on this MB.
2 - Excellent
2 - Very Good
4 - Average
3 - Terrible
Recent reviews by guests are Mixed. Here are excerpts from a couple of them ....
"The resort itself is doing well and packed with Asian visitors who seem to love it. In the huge breakfast room there was us and one other western couple. I have no problem with this, but would point out that Asians idea of a holiday tends to be different. Casino's, restaurants and shops take precedence over sun loungers and outdoor activities."
"There is no bus or taxi service from Resort to Kampot Town and will cost you USD40 just to book the whole taxi to get down to Kampot town.
The resort is still new, with minimal facilities. Only 2 restaurants plus a lounge and a kid recreation area. For adults and teenager, there is nothing much to do, if you don't gamble.
On checking-in we were given an occupied room, luckily a hotel staff was with us because the occupants were inside the room when we opened the door (TERRIBLE EXPERIENCE).
The room is spacious, with the cool weather, is good for relaxation, so more suitable for honeymoon couples. "
"This is a resort by name only. There has been very little thought into the design of this hotel. The hotel markets itself on the beautiful views, our room however overlooked another wing of the hotel and it appears this is also the case for most of the rooms. The sky Bar was, in fact, on the second floor and overlooked the car park. Outwardly the hotel looks impressive but the interior workmanship is of a poor standard that will surprise most guests.
The resort is incomplete and there is no pool at this stage, although one is apparently planned.
The most positive aspect of our stay was the staff. What they lacked in training was made up for by their positive attitude and overall friendliness.
Definately for gamblers only, if you are looking for resort accommodation I reccommend you try somewhere else. "
BTW...you can see recent pics (April 2013) of the Thansur Bokor Highland resort casino on the 'Trip Advisor' website
is an update on the operational status of the Thansur Bokor Highland resort casino. Hoping to hear that it is up, running, and fully operational. This year-long 'soft-opening' stuff is a bunch of accounting sleight of hand BS used to disguise poor performance that would lower average WUD in a market.
'The performance is what it is. If we can't make the money we need PER machine - then we need make it with MORE machines. I don't care about the average as much as I care about the total revenue.