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 ...

http://www.cambodiadaily.com/business/court-order-ends-nagaworld-strike-sends-staff-back-to-work-32435/

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/

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