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Stock impact report

How Cambodia's backpacker haven became a Chinese casino mecca [CNN]

CHINA COMMUNICATIONS ADR (CCCGY) 
NASDAQ:AMEX Investor Relations: en.ccccltd.cn/investorrelations
Company Research Source: CNN
How Cambodia's backpacker haven became a Chinese casino mecca Once a quiet seaside haven for backpackers, Sihanoukville has morphed into a giant construction site in the past three years. Cranes dot the skyline, roads have become muddy potholed lanes and jackhammers resonate late into the night. Many of the new buildings are casinos. The province hosting the city on Cambodia's south coast now boasts 88 of them , compared to 15 in late 2015 . Most of this activity is due to Chinese developers, says Astrid Noren-Nilsson, a Southeast Asian studies expert from Lund University in Sweden. "An estimated 90% of businesses in Sihanoukville, including hotels, restaurants and entertainment establishments, are now owned by the Chinese," she says. Many building fronts in Sihanoukville are now covered in Chinese characters. On the beachfront, Sichuan hotpots have replaced plenty of the 50-cent beer joints beloved by Western travelers. This has had far-reaching consequences for locals, squeezing the Show less Read more
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