Sunday, October 25, 2020

Tag: NagaCorp

NagaWorld celebrates “very positive” reopening

Cambodia NagaWorld Phnom Penh positive reopening
While Japan’s central government has confirmed it’s considering whether to push back the application process for one of the country’s first three integrated resort licences, the regional authorities in Nagasaki and Yokohama are moving forward with the administrative groundwork for their respective bids.

Strong VIP drives 15 percent GGR growth at NagaWorld in Q1

NagaCorp gaming revenues
NagaWorld’s gross gaming revenue rose 15 percent year-on-year to $368.9m for the first three months of 2020, thanks to strong growth in the VIP segment.

Tigre de Cristal and Altai Palace temporarily halt gaming operations

Russia Casino Tigre de Cristal and Altai Palace temporarily halt
While casinos in Siberia and the Russian Far East have temporarily closed amid the ongoing coronavirus pandemic, Tigre de Cristal in the Primorye gaming zone is still moving ahead with an expansion plans which will see the addition of further hotel rooms and a new Suncity VIP room.

NagaWorld sees more than 20 percent in rise in GGR for first nine months 20

Cambodia NagaCorp GGR Financial results
The casino complex in the Cambodian capital Phnom Penh reported GGR of nearly $1.29bn in the first nine months of the year, while the property’s operator..

NagaCorp moving forwards with $3.5bn Naga 3 expansion in Phnom Penh

NagaCorp expansion in Phnom Penh
While NagaCorp is considering a Japan IR licence bid and is on track to open the first phase of its Russian casino resort Naga Vladivostok in Q2 2020..

Naga bets big on Chinese tourists

Nagaworld casino Cambodia Chinese Tourist
NagaCorp’s plans for the $3.5bn third phase to its NagaWorld casino complex in Phnom Penh “are its most ambitious yet” explains Warwick Bartlett, CEO of..

CEO backs $3.5bn Naga Three extension

Naga Three Cambodia Expansion
NagaCorp has confirmed the cost of its Naga Three development in Phnom Penh will hit $3.5bn, partly funded by its own CEO Chen Lip Keong, providing an..

Casino projects queuing up in Primorye

ICR 189 WORLD PRIMORYE
CJSC Shambala is planning to build a casino in the Primorye Integrated Entertainment Resort zone in the Russian Far East. The group currently operates Shambala Casino in Azov City, however this property will be forced to close in January 2019 following change in the law by the Russian Duma which is looking to reduce competition for the new gambling zone...

NagaWorld expansion could open by Octoberas NagaCorp faces additional $16m tax bill

nagaworld
Hong Kong-listed casino operator NagaCorp is likely to open an extension to its flagship Cambodian casino in October, according to recent comments by Tim McNally, the company’s chairman.   The TSCLK Complex - also known as Naga2 - is attached to NagaWorld, a casino property located in the Cambodian capital, Phnom Penh. In a filing on 10 July, Naga Corp stated that...

Cyprus’ new IR licence: a one horse race?

Casino Review Cyprus Licence
A coalition effort between Melco International and the Hard Rock chain may become the sole vying candidate for Cyprus’ new IR licence – as the other parties continue to haggle with local landowners.   The bidding process to operate the sole casino licence up for grabs in the Republic of Cyprus may end up with only one viable candidate – after local media...

Naga 2016 financials likely to be ‘robust’

NagaWorld Cambodia
End-of-year financials from Hong Kong-based NagaCorp – owner and operator of Phnom Penh’s NagaWorld casino and hotel complex – are likely to show sustained, substantial growth, according to Japanese investment bank and brokerage Daiwa Securities. Daiwa representatives met with Naga management at the bank’s Consumer and Gaming Conference, which took place in Hong Kong last month. A follow-up note posted...

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