Ho Wah Genting Bhd hopes its casino, hotel and resort businesses in Poipet, Cambodia would be a major contributor to revenue in the next few years, chief executive officer and managing director Goh Sin Huat said.
We started the business on April 11. In the first month of operations, we found it encouraging. We have definitely covered our operational expenses, he said after Ho Wah AGM in Kuala Lumpur yesterday.
Currently, only the first floor of the casino, which can accommodate 40 tables, is open.
Part of its second floor, which could accommodate 40 to 50 tables, would be opened for business next month, Goh said, adding that slot machines would be increased to 200 from 120.
We started the hotel operations with three floors, or 100 rooms, and now, we have 200 rooms.
Occupancy rate at our hotel is about 40% on weekdays and reaches 70% on weekends, depending on whether there are group bookings, he said, adding that rooms were now on promotional rates of 1,000 baht (RM90) a day.
The investment for the first phase development of the casino was about US$3mil, Goh said, adding that it was the sixth casino in Poipet.
As for the company's wires and cables manufacturing operations, Goh said Ho Wah had extended it to Batam, Indonesia which offered lower operational costs.
Ho Wah Genting also has two factories in Kulim.