Queenco Leisure International Ltd plans to open the second phase of its Sihanoukville resort in early 2013, including a 200-suite hotel and casino, a company official said yesterday.

Queenco took over the Holiday Palace in Sihanoukville in 2010 to renovate and expand the property, the Post reported at the time.

The first phase opened on December 30, comprising a 60-room hotel and casino equipped with 130 slot machines, according to Queenco founder and main shareholder Yigal Ailkha. A high-end Asian restaurant was expected to open within a month, he said.

Phase two will include the 200 suites, a casino with 50 games tables and 350 slot machines, a convention centre, pool area, health club and spa, he said, and will be complete early next year. Yigal Zilkha plans to finish the entire renovation in 2014.

Zilkha told the Post via email yesterday that the government’s “warm welcoming” of foreign investors, in addition to the activation of commercial flights to Sihanouk International Airport, has made Queenco confident that there will be demand for such an ambitious project.

“Cambodia is an emerging market that will grow fast in the coming years, specifically in the beautiful beach areas of Sihanoukville,” he said.

“This will happen as the quality of the hotels and activities improve. We are happy to pioneer international standard development to assist this growth.”

Queenco is also in the planning stages for the development of a nine-hectare seaside property purchased in 2008, according to Yigal Zilkha.

The company plans to build a 2,000-room hotel and casino resort and condominium complex on the location, which will include a shopping mall, convention centre, spa and restaurants. Construction is set to begin in 2013, he said.