Queenco Leisure International Ltd has launched the first phase of its US$30 million hotel and casino project in Sihanoukville, according to industry trade publication InterGame Online.

On December 31, Queenco opened a 60-room hotel and adjoining casino equipped with 130 slot machines, gaming tables and a health spa, according to InterGame.

The company, which holds a 70 per cent stake in the project and is listed in both London and Tel Aviv, took over the Holiday Palace in 2010 to renovate and expand the property, the Post previously reported.

Queenco also purchased 9 hectares of undeveloped beachfront property in 2008 for $10 million, and as of 2010 planned to begin development towards the end of 2011, the Post reported.

Queenco management could not be reached for comment on the opening or the land development.