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He also told VIP junket operators he would not extend credit to their clients and could not guarantee their safety unless they started visiting Star Paradise casino instead. But with a groundswell of new casino licences and an absence of any government regulation on how they operate, casinos in Cambodia are probably as dicey as they get. Credit: Dom Lorrimer. Somboon declined to comment when contacted through his Australian lawyer. A year earlier he sold He still retains million shares or 27 per cent of the company. The company has told investors that criminals then started meeting Chinese gamblers at the border and physically threatening them and demanding protection money. Reichel is a former general counsel with NSW wagering company Tab Limited which was later bought by Tabcorp and racing broadcaster Sky. It has started luring Chinese and Korean gamblers to Poipet to make up for the lost Thai junkets. License this article. Just over the border is the frontier town of Poipet, a one-time war zone now in the midst of a gambling gold rush, with new casinos and hotels rising high above the streets. A storm of lawsuits has since erupted between the two parties. However, Hines resigned on December 21, after five years as a non-executive director, and the company is searching for a replacement. Junket hosts identify deep-pocketed punters and offer them an all-expenses trip to the casino for a few days. Local and foreign gambling companies, including one little-known Australian outfit, Donaco International, are betting Poipet will keep growing in popularity. Nick Toscano Twitter Email.{/INSERTKEYS}{/PARAGRAPH} The Vietnamese government, which forbids its own citizens to gamble there, owns 5 per cent of the Aristo. Donaco's Star Vegas casino is just inside the Cambodian border with Thailand. Perpetual has cut its stake from 68 million shares to 26 million, while Fidelity has gone from million to 33 million shares. Aristo is expected to be back on track by now. According to the Cambodian government, there were active casino licences at the end of last year, up from fewer than in One of the main aims of the bill, explains Cohen, is to encourage greater foreign investment in the Cambodian gaming industry by benefiting stronger operators and squeezing out the less reputable businesses. Somboon allegedly took computers, kitchen equipment and corralled about staff to the new casino. Lucy Battersby has covered trends, technology and telecommunications since joining The Age in The Sydney Morning Herald. Around this same time, with Star Vegas tied up in litigation, things also suddenly got very difficult for the first time at the Aristo International in Vietnam. Shareholders will receive substantial benefits from the increase in size and scale of the company. It was also forced to cancel a partnership with Manchester United. Replay Replay video. Gambling is banned in Thailand, but the drive to Poipet is smooth and comfortable. Then, just as things were returning to normal and the official mourning period ended, more trouble surfaced. In Donaco decided it was time to take full control of Star Vegas from Somboon. To make up for the shortfall in Thai visitors Donaco sought out gamblers from Malaysia, Hong Kong, and Macau by signing deals with new junket operators. Lucy Battersby Twitter Email. The company has moved to assure investors that the problems with the Chinese crime syndicate at the Aristo has now been dealt with by the authorities. Joey Lim. {PARAGRAPH}{INSERTKEYS}The closest legal gaming tables to Bangkok are a four-hour drive east, down a highway that leads to the Thai-Cambodian border. Junkets are crucial to Asian casinos, and especially border town casinos with no other attractions. He set up the company in with his famous grandfather. A Cambodian court has issued an injunction to shut down the new Star Paradise and Paramax with help from video footage of gaming tables hidden behind supermarket shelves. But in a country like Cambodia, question marks remain over how effective any new regulations will be. The board seats went to his son and a business associate and Somboon was promised a quarter of the profits every year he reached the earnings target. Midway through , Donaco discovered, it alleges in court documents, that rival casinos were being set up on land linked to Somboon — including one out the back of a local supermarket — in what Donaco alleges are breaches of a non-compete clause in the sale contract. Then, in mid, a long-standing VIP player from Yunnan was losing a lot of money one night and ended up getting into a fight with another player at the table. The past 18 months have certainly been tough for shareholders in Donaco which listed on the Australian Securities Exchange in The deal he is talking about is Donaco's purchase of Star Vegas. According to the court documents, on the afternoon of June 30, , all the slot machines at Star Vegas were turned off and the gambling tables closed. Sometimes junket operators lend gamblers money. Play video. Wherever you go in the world, casinos are a risky business; both for the punters who walk through the doors and dream of going home with full pockets, and for the owners who spend top dollar to create the most luxurious settings, and whose fortunes can swing dramatically on a handful of lucky — or unlucky — winning streaks. Like the Star Vegas, the Aristo is located on a border and caters to Chinese gamblers who are not allowed to gamble in their own country.