• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Tuesday 3 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Russian roulette

Newsdesk by Newsdesk
Tue 14 Apr 2009 at 16:00
slots_parlour1
4
SHARES
109
VIEWS
Print Friendly, PDF & Email

More tantalising snippets have reached IAG re: the fallout from the great Phnom Penh slot club market implosion

It seems a couple of Russian entrepreneurs were left mightily disappointed after the Cambodian capital’s slot clubs were placed under lock and key by the government in a crack down on gambling by locals.

Overnight they found that thousands of US dollars-worth of gaming equipment they owned or had leased to third parties was suddenly out of reach. And all this at a time when businesses everywhere need all the liquidity they can get.

An American company faced with this kind of problem would in all likelihood get on the phone to its lawyers or to the US Embassy to see if any arms could be (legally) twisted.

In Russia, the direct approach is more in fashion. Russian business people are by definition not shrinking violets. You need a thick skin, good political contacts and in some cases a set of body armour to make any headway in a post-Soviet economy.

IAG understands several of these demi-oligarchs hatched a scheme to snatch back their equipment at night from locked premises. The plan was about to swing into action—until it was pointed out that they would in all likelihood have to face the wrath of an armed and potentially dangerous group—i.e., the local police. The boys in tall peaked hats and sunglasses were already reportedly ticked off at the loss of a lucrative source of unofficial ‘tax’ from the capital’s gambling industry after the unfortunate accidental death of their commander.

IAG‘s sources suggest this was the sort of ‘law enforcement’ scenario that Russians—schooled in the world of business negotiation occasionally featuring armed back up—could understand. They decided to relent and try a different tack.

There’s a general rule in developing countries (sorry, ’emerging markets’) that the level of accountability of public servants is inversely proportional to the number of people in uniform actually on the streets. By that measure, the Russian traders were probably wise to hold off and seek a negotiated settlement for the return of their kit.

RelatedPosts

NagaWorld

GGR at Cambodia’s NagaWorld up 17.7% to US$171 million in 1Q25

Tue 8 Apr 2025 at 06:29
Suncity Group claims majority 69.66% stake in Summit Ascent Holdings

Summit Ascent expecting to record US$5 million profit for FY24 on improved Russia casino performance

Tue 1 Apr 2025 at 06:23
Union Gaming revises NagaCorp 2020 estimates upwards, says well-placed to swallow impact of new Cambodia gaming law

Investment in growing premium mass segment sees NagaWorld GGR climb to US$543 million in FY24

Wed 26 Mar 2025 at 05:52
Donaco looks inward as Lee Bug Huy named new CEO

Hong Kong’s Argyle Street Management Ltd makes offer to acquire 100% of ASX-listed Donaco International

Mon 17 Mar 2025 at 06:42
Load More
Tags: CambodiaPhnom PenhRussiaslot club
Share2Share
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – The real reason Philippines casino revenues are down

Editorial – The real reason Philippines casino revenues are down

by Ben Blaschke
Sun 30 Mar 2025 at 23:04

After enjoying a post-COVID surge in gaming revenues at its licensed casinos, the Philippines has hit a rocky patch. In...

Inside Thai IRs

Inside Thai IRs

by Andrew W Scott and Ben Blaschke
Sun 30 Mar 2025 at 22:59

No time to read this whole article? Here are the bullet points! With passage of Thailand’s Entertainment Complex Bill through...

Resorts World Las Vegas – Lighting up the north

Resorts World Las Vegas – Lighting up the north

by Andrew W Scott and Ben Blaschke
Sun 30 Mar 2025 at 22:52

Inside Asian Gaming recently visited Genting’s American icon Resorts World Las Vegas to take a closer look at a property...

A baccarat perspective

A baccarat perspective

by Ryan Hong-Wai Ho
Sun 30 Mar 2025 at 22:37

In the first of a two-part series, Ryan Ho explores how gaming innovations and market changes have shaped the prominence...

Evolution Asia
Aristocrat
GLI
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Bally’s Chairman Soo Kim talks after deal sealed to acquire Australia’s Star Entertainment

Bally’s Chairman Soo Kim talks after deal sealed to acquire Australia’s Star Entertainment

by Newsdesk
Wed 9 Apr 2025 at 06:16

Star Entertainment Group confirmed Monday it had entered into a binding term sheet with US casino operator Bally’s Corp to take control of the company as part of a US$300 million (US$180 million) deal. The term sheet, comprising a multi-tranche...

China-owned contractor of Chow Tai Fook’s Baha Mar ordered to pay US$1.6 billion to original owner for “many acts of fraud”

New York appellate court dismisses China Construction America’s appeal in US$1.6 billion Baha Mar fraud case

by Ben Blaschke
Wed 9 Apr 2025 at 05:59

A New York court has dismissed an appeal by China Construction America, Inc (CCA) against a Supreme Court ruling in October requiring it to pay US$1.6 billion to the original owner of Bahamas casino resort Baha Mar for committing “many acts...

Trade union warns massively increased casino pokies tax in NSW will cost jobs

Pub baron Bruce Mathieson agrees additional AU$100 million Star investment, reduces Bally’s contribution to AU$200 million

by Ben Blaschke
Wed 9 Apr 2025 at 05:40

Star Entertainment Group’s largest individual shareholder Investment Holdings Pty Ltd has entered into a binding term sheet with US casino operator Bally’s Corp that will see it subscribe for AU$100 million (US$60 million) in convertible bonds, reducing in the process...

RWLV names former MGM executive Greg Shulman as EVP of International Marketing

RWLV names former MGM executive Greg Shulman as EVP of International Marketing

by Newsdesk
Wed 9 Apr 2025 at 05:35

Genting Group’s US flagship Resorts World Las Vegas (RWLV) has announced the appointment of casino industry veteran Greg Shulman as Executive Vice President of International Marketing. Continuing the property’s recent management overhaul, RWLV said Shulman will lead its international casino...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English