Pailin casino sold after slump

The operator of a Cambodian casino near the Thai border has sold the business after suffering from a decline in gamblers which he blamed in part on the six-month street protest in Thailand.

Entertainment Gaming Asia (EGA) said it sold Dreamworld Pailin casino to a local Cambodian investor for US$500,000, the Phnom Penh Post reported, quoting the company's filing to Nasdaq on June 26.

The stock market report did not name the buyer, but said the price paid was "a bottom price tag". EGA's headquarters is in Macau.

The firm said in the statement that the political unrest in Thailand was responsible for part of the losses it sustained after opening in 2012 with an investment of US$2.5 million (81.25 million baht), according to the Phnom Penh Post.

The casino is located in Pailin mainly to lure gamblers from Thailand who can reach it through a checkpoint in Pong Nam Ron district of Chanthaburi province. Pailin is under the local control of veterans of the Khmer Rouge and their families.

The firm also operates Dreamworld in Poipet, opposite Aranyaprathet district of Sa Kaeo province.

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