Yigal Zilkha's Queenco will own 70% of the joint venture, which will be based at the Holiday Palace Hotel in Sihanoukville in Cambodia.
20 September 10
Globes' correspondent (Israel)
Queenco Leisure International Ltd., today signed an agreement with Paradise Investment of Cambodia to operate a hotel, casino and other tourist facilities in the country at the Holiday Palace Hotel in Sihanoukville in Cambodia.
Queenco will own 70% of the joint venture and Paradise Investment 30%. The agreement is for a 25 year lease of the hotel with an option for a further 25 years. Queenco will pay $30,000 rent per month in quarterly installments.
After the announcement of the signing of the agreement Queenco chairman Yigal Zilkha said, "In recent years we have identified the potential of South East Asia and are working to expand the company's activities in the region. Growth in gaming activities in South East Asia in general and in Cambodia in particular is rapid and the business potential is far from being realized."
Queenco has hotel and casino activities in Greece, Serbia and Romania.
The company's share price is unchanged on the London Stock Exchange today at ₤3.39.
The share price of parent company Queenco fell 0.98% on the TASE in early afternoon trading to NIS 3.95.
20 September 10
Globes' correspondent (Israel)
Queenco Leisure International Ltd., today signed an agreement with Paradise Investment of Cambodia to operate a hotel, casino and other tourist facilities in the country at the Holiday Palace Hotel in Sihanoukville in Cambodia.
Queenco will own 70% of the joint venture and Paradise Investment 30%. The agreement is for a 25 year lease of the hotel with an option for a further 25 years. Queenco will pay $30,000 rent per month in quarterly installments.
After the announcement of the signing of the agreement Queenco chairman Yigal Zilkha said, "In recent years we have identified the potential of South East Asia and are working to expand the company's activities in the region. Growth in gaming activities in South East Asia in general and in Cambodia in particular is rapid and the business potential is far from being realized."
Queenco has hotel and casino activities in Greece, Serbia and Romania.
The company's share price is unchanged on the London Stock Exchange today at ₤3.39.
The share price of parent company Queenco fell 0.98% on the TASE in early afternoon trading to NIS 3.95.
6 comments:
Laundry!!!!anyone?
10:12 PM COMMISSION of PRIVATE PARTY!!!
WHO WAS PUKED?????
Do we need another casino ?
We should rather ask our israeli friends to invest in weapons manufacturing plant in Cambodia.
11:55PM! man money is money busines is bisunes if they wanted to invest it is their problem!
What Israeli friend invest in weapond you want to steal the tecnology to sele to Iran?
Have another PhD! would you!
yes, agreed that our israel friends should help cambodia to manufacture weapons in cambodia. god bless cambodia.
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