An Asian casino running on losses, the Queenco Casino and Hotel is hoping to get back on track and enhance its international repute with the help of poker. The Cambodian casino’s first step in its attempt was hosting the Asia Poker Tour or the APT, which is a prominent poker competition that takes place every year. The APT has been entertaining poker enthusiasts in Cambodia since 2012. This year, the event was held in Queenco, mostly to promote the city of Sihanoukville (where the casino and hotel is situated) as a gambling hub.
Queenco to host more international events
Queenco Casino and Hotel had losses amounting to 1.5 million Euros or $2 million as of the end of 2013. The casino, which is owned by the Israeli Queenco Leisure International Ltd., has entered into an agreement with the organizers of APT to host the yearly tournament and at least two other major poker tournaments, said Meni Akunis, the chief operations manager of the casino. There are major doubts about the capability of the Queenco casino to sustain those losses and come back to compete with other players in the market, according to a report submitted by its parent company in 2013.
Hoping to turn tables with poker
Cambodia is the biggest gambling jurisdiction in Asia, with around 56 casinos that have more than 7500 slot machines and 2500 table games. Cambodian law does not allow its citizens to gamble in their country. However, outsiders are more than welcome to enjoy a game of poker or other games at their casinos. Mr. Akunis said that the management hopes that the tables will turn once the Sihanoukville International Airport starts receiving international flights. Only recently, the airport welcomed its first international flight from South Korea.