Sihanoukville, Cambodian magnet for Chinese casinos, loses its pull, leaving thousands owed money and unable to move on
Sihanoukville, Cambodian magnet for Chinese casinos, loses its pull, leaving thousands owed money and unable to move on
Sihanoukville, Cambodian magnet for Chinese casinos, loses its pull, leaving thousands owed money and unable to move on
I remember seeing quite a number of adverts for buying condos in Sihanoukville. What's going to happen to them? Will we see a firesale?
I remember seeing quite a number of adverts for buying condos in Sihanoukville. What's going to happen to them? Will we see a firesale?
I read that we'll written piece yesterday, an excellent report.
The real estate bubble will be interesting to watch.
The real estate bubble will be interesting to watch.
- spitthedog
- Is the World Outside still there ?
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Well, swimming with sharks and all that.
I always assumed the only person who didnt see this coming was YaTingPom?
I always assumed the only person who didnt see this coming was YaTingPom?
"I don't care what the people are thinking, i ain't drunk i'm just drinking"
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- Making Khmer girls cry since 2003
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I haven't followed this very closely, but why are all the Chinese people moving out of Sihanoukville? Is it just because online gambling was banned in Cambodia? I thought these were brick and mortar casinos built there for Chinese gamblers, why would they be affected?
Also, why would Cambodian officials, who are greedy and obedient to the Chinese and have lax regulation of everything, ban online casinos? Did Beijing tell them to do that because Chinese gambling in Cambodia was causing social problems in China or sucking money out of China?
Also, why would Cambodian officials, who are greedy and obedient to the Chinese and have lax regulation of everything, ban online casinos? Did Beijing tell them to do that because Chinese gambling in Cambodia was causing social problems in China or sucking money out of China?
Follow my lame Twitter feed: @gavin_mac
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- OneTrickPony
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"He says the two most common cases involved company owners abandoning the work site without paying workers’ wages, or foremen taking the money and leaving, or spending it in the casinos instead of paying workers."
I also noted the part where the companies are withholding passports so the workers can't go home, or renew their visas, with the Cambodian government reaping in the overstay fees of the few lucky escapees.
Expats stuck in Cambodia. Some things never change...
Can we start to expect reports of '400 Chinamen handed themselves in at the Department of Immigration to kindly request to be sent home'?
I also noted the part where the companies are withholding passports so the workers can't go home, or renew their visas, with the Cambodian government reaping in the overstay fees of the few lucky escapees.
Expats stuck in Cambodia. Some things never change...
Can we start to expect reports of '400 Chinamen handed themselves in at the Department of Immigration to kindly request to be sent home'?
Up the workers!
No you’re right. I didn’t see the online gambling crackdown, road and sewerage destruction/reconstruction and corona virus coming. Silly me.spitthedog wrote: ↑Sat Feb 22, 2020 1:15 amWell, swimming with sharks and all that.
I always assumed the only person who didnt see this coming was YaTingPom?
Land prices are still high. People are not buying as much but the owners are just waiting just like they’ve always done.
Sure, condo room prices have collapsed but would you rent one? You can’t travel anywhere, it’s worse than ever what with dust and shit and you’ll get booted out if and when things improve.
For the record I did say things would stabilise as they couldn’t continue on as they were.
Be interesting to see what happens when the rains come...
On the bright side. We may get our piece of land back that was “stolen” by some oknha.
(As an aside. It wasn’t long ago SCMP was a “Chinese mouthpiece”)
pew, pew, pew, pew!
- maxx
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apparently the built casinos were really just fronts for the more lucrative illegal online gambling.
theres only so many gamblers the built casinos could reach but the online casinos were able to reach everyone everywhere and the poor authorities were only able to tax the built casinos & whatever the online gambling license holders declared which of course would be a miniscule fraction of their actual turnover.
once again the prc smoke and mirrors arrogance has been stymied.
cancelling the online gambling licenses that were concealing the majority of their actual operations has resulted in a significant decline in interest from the prc hence the decline in the smoke & mirrors that has exacerbated the decline in everything else followed by the still evolving covid19 event & we have the perfect storm
theres only so many gamblers the built casinos could reach but the online casinos were able to reach everyone everywhere and the poor authorities were only able to tax the built casinos & whatever the online gambling license holders declared which of course would be a miniscule fraction of their actual turnover.
once again the prc smoke and mirrors arrogance has been stymied.
cancelling the online gambling licenses that were concealing the majority of their actual operations has resulted in a significant decline in interest from the prc hence the decline in the smoke & mirrors that has exacerbated the decline in everything else followed by the still evolving covid19 event & we have the perfect storm
- Barang_doa_slae
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Must say that brigade 71 is working at full steam on the roads and drainage systems.
Most should be done before rainy season sets in.
Most should be done before rainy season sets in.
“Apparently”
Never a great way to start a post.
In other words “I’ve heard”, “Bloke down the pub said” etc.
I don’t believe people would invest millions building a resort/casino just so they can make money from a tentative online gambling licence. It’s not like they wouldn’t be able to do it without.
Don’t forget. It’s not just China (PRC) building shitting huge resorts here.
Call me blinkered but I don’t see the fall of Sihanoukville. Just a hiccup in the grand scheme of things.
Incidentally I read online the car sales in China have fallen by 97%!
Never a great way to start a post.
In other words “I’ve heard”, “Bloke down the pub said” etc.
I don’t believe people would invest millions building a resort/casino just so they can make money from a tentative online gambling licence. It’s not like they wouldn’t be able to do it without.
Don’t forget. It’s not just China (PRC) building shitting huge resorts here.
Call me blinkered but I don’t see the fall of Sihanoukville. Just a hiccup in the grand scheme of things.
Incidentally I read online the car sales in China have fallen by 97%!
pew, pew, pew, pew!
- Barang_doa_slae
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That and a few projects are actually over a billion $.YaTingPom wrote: ↑Sat Feb 22, 2020 9:24 am“Apparently”
Never a great way to start a post.
In other words “I’ve heard”, “Bloke down the pub said” etc.
I don’t believe people would invest millions building a resort/casino just so they can make money from a tentative online gambling licence. It’s not like they wouldn’t be able to do it without.
Don’t forget. It’s not just China (PRC) building shitting huge resorts here.
Call me blinkered but I don’t see the fall of Sihanoukville. Just a hiccup in the grand scheme of things.
Incidentally I read online the car sales in China have fallen by 97%!
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- Making Khmer girls cry since 2003
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Then why not just go to the casino companies and say "give us a few more bucks"? Or let them keep doing it because some tax revenue is better than none? How does Cambodia benefit from banning online gambling?maxx wrote: ↑Sat Feb 22, 2020 9:16 amapparently the built casinos were really just fronts for the more lucrative illegal online gambling.
theres only so many gamblers the built casinos could reach but the online casinos were able to reach everyone everywhere and the poor authorities were only able to tax the built casinos & whatever the online gambling license holders declared which of course would be a miniscule fraction of their actual turnover.
Follow my lame Twitter feed: @gavin_mac
Pretty sure it's an established fact they were banned on request by China but I don't have a source.
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