Phnom Penh has only one licensed casino called the Naga Casino. Previously it was
housed in a large boat but has since been moved to a new hotel/casino complex which
reportedly has cost nearly 100 Million USD to build.

However there are a number of what are possibly illegal casinos operating in town.
Mainly aimed at the asian consumer they may not suit most western tastes or budgets.

At this point the hotel facilities are still under construction.

Malaysian resort company Ariston is planning to build a $100 million hotel,
conference and casino complex near the river in Phnom Penh.

Ariston, which runs the Naga floating Casino, has bought 1.4 hectares of land
between the Buddhist Institute and the Bassac squatter area and plans to begin
construction next month. The company hopes that the resort will be finished in
14 to 16 months.

The massive complex, named Nexus Naga Hotel, will include 750 hotel rooms,
conference facilities for 900 people, shops, restaurants, a nightclub and a casino.

The resort has been designed by a US architect group, Wimberly Allison Tong &
Goo, which has previously designed renowned venues such as Sun City in
South Africa, the Venetian City in Las Vegas and Ritz-Carlton hotels.

“ Our intention is to build the biggest landmark in Cambodia after Angkor Wat.
As the temples become more and more famous, the capital shouldn’t be ignored,”
said Ariston chairman Tan Sri Chen Lip Keong.

Nexus Naga Hotel will target both Western and East Asian tourists, who Keong
believes will increasingly be attracted to Cambodia.

“ With the only landmark in the capital, we can position ourselves as a winner.
We will have a considerable chance of success,” Keong said.

Controversy has surrounded casino operations in Phnom Penh, with Prime Minister
Hun Sen is suing an order last year that all gambling facilities must be moved
at least 200 kilometres away from the capital. The casino at the Holiday Hotel
chose to move to Sihanoukville, but Ariston took the matter to court and won
the right for the Naga floating casino to stay.

In 1994 the Government signed an agreement with Ariston permitting the
company to run the only casino operation in Cambodia. However, other
gambling permits were later handed out, so Ariston chose to settle for an
agreement that makes them the only casino operator within 200 kilometres
of Phnom Penh.
“ We are decent people. We want to honour that agreement, and we
want the Government to honour it too,” Keong said. According to plans,
all casino operations on the Naga Floating Casino will be moved into
the new resort and the boat towed away.

From Skyscrapercity.com