News

Donaco International Ltd has signed an exclusive term sheet to acquire “a significant gaming and hospitality business in Cambodia”, the company said. It did not provide further details on the acquisition target. ...

Government denials over the rumored development of the Buddhist Institute have reached the highest levels, with the prime minister penning a letter to the king to assure him the land is not for sale. In a letter addressed to King Norodom Sihamoni dated October 6 and ...

Despite being hemmed in by construction on all sides as NagaWorld expands its casino empire in Phnom Penh, the Buddhist Institute will not be sold off or rented out, Cults and Religion Minister Min Khin told a National Assembly commission on Thursday. In May, the institute’s ...

Cambodian casino operator NagaCorp Ltd has taken the step of reassuring investors about its casino licence rights in the country. It stated that the deal includes an exclusive right to operate a casino (NagaWorld, pictured) in the capital Phnom Penh, and the area within a ...

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, ...

The Cambodian government is in the process of amending its gaming laws in a bid to draw major casino operators, industry sources have confirmed to GGRAsia. Earlier on Tuesday, the Phnom Penh Post reported that the new draft of the national casino law could be finalised ...

The Cambodian government is drafting a series of changes to the Kingdom’s gaming laws in a bid to draw major players from Macau and the US to the market and potentially create a new tax base from the growing, if currently illegal, online betting industry, ...

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 ...

The share price of Cambodian casino owner Entertainment Gaming Asia has fallen below the minimum requirement of the Nasdaq Stock Market, threatening the gaming company’s US listing, according to a statement posted on EGA’s website last week. EGA has been given 180 days – until October ...

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 ...

Entertainment Gaming Asia (EGA), which operates casinos and slot machines in Cambodia and the Philippines, recorded a 9 percent drop in revenue last year compared to 2012, from $26.8 million to $24.3 million, according to the company’s annual report. EGA operates casinos in Pailin and Poipet ...

Crippling revenue and poor gamer numbers have prompted Entertainment Gaming Asia (EGA) to consider walking away from its Dreamworld Casino in Pailin province, according to a filing on the NASDAQ exchange on January 21. EGA, owned by Melco International Development, runs Dreamworld Casinos in Pailin and ...

As Vietnam takes steps towards legalising gambling for its own citizens, analysts warn of a threat to the bottom line at Cambodia’s premiere casino, NagaWorld, whose patronage depends largely on gamblers from neighbouring countries. Local Vietnamese news agency Thanh Nien reported on Tuesday that the Vietnamese ...

It’s been more than a year since union leader Sat Sep was fired from the Tropicana Casino and Resort in Poipet town, a dismissal that sparked strikes and ended in senior members of the Cambodian Tourism and Service Workers Federation being driven from the casino’s ...

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 ...

Nagaworld casino has fired more than 400 workers who have spent about 10 days striking to demand a wage increase, union leaders, workers and a leaked internal memo have revealed. A list of names, obtained by the Post yesterday, was emailed to management and senior staff ...

Nineteen NagaWorld casino employees were detained Tuesday afternoon as police attempted to break up a protest of more than 500 workers who had picketed in front of the casino for the past six days, demanding the company increase their salaries.  The workers had been striking non-violently ...

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 ...

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 ...

With Cambodia currently seen as a country where the laundering of illicit cash may be going undetected, an international expert yesterday warned that economic growth and more international trade could leave the country open to financial crime. Gert Demmink, a former head of supervision at ...

bout 100 chefs and kitchen staff walked off the job at the capital’s NagaWorld casino yesterday as a workers’ strike at the luxury entertainment venue entered its fifth day. More than 1,000 protesters — the majority of the casino’s workers — rallied outside the front entrance ...

NagaCorp Ltd., the Hong Kong-listed company that runs Phnom Penh’s only licensed casino, saw its profits grow by 23 percent in 2012, the firm said in an announcement. In its financial results for the year, released Wednesday to the Hong Kong stock exchange, the company that ...

With demand for shopping space in Cambodia on the rise and investor interest growing, the Japanese developer Aeon Mall (Cambodia) Co Ltd last week broke ground on the construction of a US$205-million mall in Phnom Penh. “We are happy to contribute to the development of ...

Tokyo police arrested 10 Japanese nationals earlier this month for allegedly defrauding more than 1,000 investors out of $20 millions using fictitious investment projects in Cambodia, according to Japanese media reports. “The Metropolitan Police Department found no evidence that the amount of money raised was ...