News
Naga profits hit jackpot again
NagaCorp’s winning streak shows no signs of letting up, with the Hong Kong-listed casino operator posting another impressive half-year result, reporting profits up more than 20 percent year-on-year during the first six months of 2017 on a surge in VIP rollings and visits to its ...
Cam McGrath
http://www.phnompenhpost.com/business/naga-profits-hit-jackpot-again
Naga CEO Lip Keong seeking majority stake
Nagacorp Ltd, the operator of Phnom Penh’s NagaWorld hotel and casino complex, announced that the company’s chief executive, Chen Lip Keong, has submitted a proposal to shareholders and the Hong Kong Stock Exchange that would allow him to divest his personal investment of $369 million ...
Post Staff
http://www.phnompenhpost.com/business/naga-ceo-lip-keong-seeking-majority-stake
Casino operator’s winning streak continues
Nagacorp Ltd, the Cayman Islands-registered operator of Cambodia’s NagaWorld casino and hotel complex, recorded $153.8 million in gross gaming revenue during the first quarter of 2016, a 35 per cent increase over the same period last year. ...
Cam McGrath
http://www.phnompenhpost.com/business/casino-operators-winning-streak-continues
Nagacorp could bid on Cyprus casino licence
Nagacorp Ltd, the parent company of NagaWorld, Cambodia’s biggest casino, is expected to bid on a licence to operate the first casino resort in Cyprus, according to a media report from the Mediterranean island. ...
Post Staff
http://www.phnompenhpost.com/business/nagacorp-could-bid-cyprus-casino-licence
NagaCorp sits out South Korean casino offering
NagaCorp, the Hong Kong stock exchange-listed parent company of NagaWorld, is not bidding for a South Korean casino permit, the company said in a filing to the exchange. ...
Post Staff
http://www.phnompenhpost.com/business/nagacorp-sits-out-south-korean-casino-offering
Cambodian casino operator NagaCorp reports net profit growth of 49%
As Macau casinos are showing continuous drop of revenue, Australian and Cambodian casinos don’t seem to have the same problem. The latest casino operator to reveal an impressive growth of net profit is NagaCorp Ltd. The Group reported an increase in profit of 49% ($101 ...
Alex Lanter
http://news.worldcasinodirectory.com/cambodian-nagacorp-casino-operator-reports-net-profit-growth-of-49-11757
Cambodian casinos look to win from China anti-graft crackdown
Cambodia has long drawn tourists to sights ranging from the Khmer Rouge killing fields to the magnificent temples of Angkor. Now the country is looking to a new market: Chinese gamblers who are deserting Macau, the region’s traditional casino hub. ...
Michael Peel
http://www.ft.com/intl/cms/s/0/53452978-bd9f-11e4-9d09-00144feab7de.html#axzz3TT6Cb1E2
NagaWorld posts $136M profit
On the back of a quest for high-rolling Chinese clients, NagaWorld’s gross gaming revenue soared 17 per cent in 2014, although profits were slightly down due to rising costs and lower profit margins from VIP customers. Gross gaming revenue clocked in at $381.4 million for 2014, ...
Charles Rollet
http://www.phnompenhpost.com/business/nagaworld-posts-136m-profit
Naga aircraft set to take flight
Nagacorp, owner of Cambodia’s largest casino, NagaWorld, is on track to begin flying in high-rollers from China on a fleet of its own commercial aircraft, according to the company’s latest earnings statement and government officials. In a filing to the Hong Kong Stock Exchange on Friday, ...
Eddie Morton
http://www.phnompenhpost.com/business/naga-aircraft-set-take-flight
Activists call for transparency at Buddhist Institute
The activist Independent Monk Network has called on the Ministry of Cult and Religion to release paperwork proving that an agreement it struck with NagaCorp to help construct an electricity substation at Phnom Penh’s Buddhist Institute does not involve the selling of any of the ...
Mom Kunthear
http://www.phnompenhpost.com/national/activists-call-transparency-buddhist-institute
Monks protest over institute
A group of about 100 people, including 50 or so monks, attempted to march yesterday to protest outside Phnom Penh’s Buddhist Institute, but were thwarted by droves of military police and district security guards on Sisowath Quay. No violence occurred as Independent Monk Network leader But ...
Chhay Channyda
http://www.phnompenhpost.com/national/monks-protest-over-institute
Institute land not leased: gov’t
Responding to reported fears among staff that the destruction of a wall at Phnom Penh’s Buddhist Institute could herald the piecemeal sale of the grounds to adjacent casino operator NagaCorp, the government yesterday chalked the alarm up to a simple misunderstanding. According to the Ministry of ...
Chhay Channyda
http://www.phnompenhpost.com/national/institute-land-not-leased-gov%E2%80%99t
Institute feeling crowded
Construction work at the site of Phnom Penh’s Buddhist Institute by Hong Kong-listed casino operator NagaCorp has caused concern among staff that the large development is driving away students. In recent days, a wall separating the institute from Hun Sen Park in Chamkarmon district’s Tonle Bassac ...
Chhay Channyda
http://www.phnompenhpost.com/national/institute-feeling-crowded
NagaCorp VIP program questioned
Citi Research, the strategy and analysis arm of Citigroup Inc, one of the world’s largest financial firms, has questioned NagaCorp’s VIP junket program in a recent report that also cites cross-border competition and tourism failings as potential threats to the program’s success. Citi Research’s analysis was ...
Eddie Morton
http://www.phnompenhpost.com/business/nagacorp-vip-program-questioned
Letting it ride: NagaCorp lifts lid on large-scale expansion
NagaCorp recently announced it would invest $369 million in its latest project opposite the Buddhist Institute. The Hong Kong-listed casino operator’s latest Phnom Penh venture, Naga2,will include a casino, a hotel and a conference hall. The announcement of the investment by NagaCorp, Cambodia’s biggest casino operator, was ...
Siv Meng
http://www.phnompenhpost.com/real-estate/letting-it-ride-nagacorp-lifts-lid-large-scale-expansion
Naga casino to buy aircrafts to fly Chinese gamblers to Phnom Penh
Cambodian casino operator, Hong Kong-listed NagaCorp, is trying to reach deals in order to fly gamblers from Macau and mainland China to its gaming resort in Phnom Penh, according to media reports. Hong Kong media quoted NagaCorp chief financial officer, Philip Lee Wai Tuck, as ...
The Cambodia Herald News Staff
http://thecambodiaherald.com/cambodia/detail/1?page=13&token=Yjk2MWM1NWYyYjY
Court Order Ends NagaWorld Strike, Sends Staff Back to Work
Hundreds of employees of Phnom Penh’s NagaWorld casino and hotel returned to work Wednesday in response to a court order telling them to end their nearly two-week-long strike. Staff demanding that the high-grossing company raise their minimum pay from $80 to $150 per month have been ...
NagaWorld a no-show at arbitration meeting
A strike involving hundreds of casino workers – many who have been told their contracts have been terminated – reached an impasse yesterday after NagaWorld officials did not attend a conciliation session at the Arbitration Council, a union leader said. “The Arbitration Council could not immediately ...
http://www.phnompenhpost.com/2013062566463/National/nagaworld-a-no-show-at-arbitration-meeting.html
Bets keep flowing as NagaWorld Employee Protest Continues
Gambling went on as usual at NagaWorld, Phnom Penh’s only licensed hotel-casino, Monday, despite an ongoing strike by employees who claim that more than 400 of them have been fired following weeks of protest. About 300 workers sat outside the casino with banners on Monday in ...
Hul Reaksmey and Simon Lewis
http://www.cambodiadaily.com/news/bets-keep-flowing-as-nagaworld-employee-protest-continues-31881/
NagaCorp rolls dice on $15 million VIP terminal
A private VIP terminal costing $15 million is being planned at Phnom Penh International Airport by NagaCorp, which hopes that once it is ready – likely by early next year – high-rollers would flock to its casino and double their spending to $8 billion. NagaWorld, the ...
Spending in NagaCorp casino drops
Spending in NagaCorp’s casino has dropped by about 4.4 per cent in the first quarter of the year compared with the same period last year. Some $1.17 billion was gambled in the casino from January to March this year, said a company quarterly report released last ...
http://www.phnompenhpost.com/2013052865866/Business/spending-in-nagacorp-casino-drops.html
NagaCorp raises $156 million from top-up placement
NagaCorp, a gaming and entertainment hotel complex operator in Cambodia, has raised HK$1.21 billion ($156 million) from a top-up placement, after fixing the price at the bottom of the indicative range. The deal was launched at around 6pm yesterday in Hong Kong time, and the ...
http://www.financeasia.com/News/336436,nagacorp-raises-156-million-from-top-up-placement.aspx
NagaCorp To Build Underground Retail Center In Phnom Penh
Nagacorp will build an underground road and retail space linking its casino complex in Phnom Penh to nearby Koh Pich, according to the announcement released by City Hall yesterday. The underground road, which will be 23 meters wide and 447 meters long, will connect to National ...
Naga World Boss Acquires Billionaire Status
The Malaysian founder of Phnom Penh’s only licensed casino, Chen Lip Keong, is now a billionaire after seeing his fortune multiply in size in recent years, according to Forbes magazine. The magazine, which calculates the wealth of individuals using company data, published a list of the ...