NagaWorld Profits Double to $98 Million

NagaCorp, which owns Phnom Penh’s only licensed casino, announced on Wednesday that net profits at the company had more than doubled in 2011 and that plans are in store to expand its operations in the country. Financial Results filed with the Hong Kong Stock Exchange show that NagaCorp made a net profit of $92 Million in 2011, compared to $44 million in 2010, the highest profit recorded by the company since it went public in 2006. … Because it is illegal for Cambodians to gamble at domestic casinos, Nagaworld says it draws in the wealthy from around the region to play at its tables.

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