• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Chen Lip Keong buys US$5mln in NagaCorp shares

Jun 20, 2018 Newsdesk Latest News, Rest of Asia, Top of the deck  


Chen Lip Keong buys US$5mln in NagaCorp shares

NagaCorp Ltd chief executive Chen Lip Keong has paid more than HKD39.6 million (USD5.05 million) to increase his stake in the Cambodian casino operator to 65.84 percent, or about 0.1 percent of the issued share capital.

NagaCorp is listed on the Hong Kong Stock Exchange. The firm said Mr Chen informed the company he had increased his holding by 5.4 million shares on Tuesday, buying them on the open market at an average price of about HKD7.33 each. The purchase means Mr Chen now owns about 2.86 billion shares in NagaCorp.

NagaCorp has a licensed monopoly of casinos in and around Phnom Penh, and is developing a casino resort in Primorksy Krai, near the eastern Russian city of Vladivostok. In April, the Russian regulator said work was underway to create the first phase of development that will include a 279-room hotel, casino and a conference hall.

NagaCorp has also announced plans to extend its reach as a regional player in the gaming industry. At the opening of Naga 2, a 900-hotel-room extension in Phnom Penh last November that forms the NagaWorld Complex (pictured), Mr Chen delivered his strategy for the company, including excursions into Japan.

“My vision is of Naga [the brand] as a dragon… it curves around China… and the northeastern part of Russia, and the north of Mongolia,” Mr Chen said at the time, adding he had spoken to the government of Hokkaido, Japan’s northernmost province, about launching a casino there.

Last month, brokerage Morgan Stanley Asia Ltd said about half of a US$290-million bond issuance completed in mid-May by NagaCorp would be used to refurbish its original Cambodia flagship property NagaWorld, commonly known as Naga 1.


  • tweet
Related articles
  • Vietnam welcomes being on latest list for China tour groups
    Vietnam welcomes being on latest list...

    Mar 14, 2023  

  • Moody’s reviewing NagaCorp rating on refinancing risk
    Moody’s reviewing NagaCorp rating...

    Mar 03, 2023  

More news
  • SOFTSWISS says it saved ops US$17mln via anti-fraud efforts
    SOFTSWISS says it saved ops US$17mln...

    Mar 24, 2023  

  • Spring launch for Pragmatic Play ‘Rabbit Garden’ slot
    Spring launch for Pragmatic Play...

    Mar 24, 2023  


Latest News

SOFTSWISS says it saved ops US$17mln via anti-fraud efforts

SOFTSWISS says it saved ops US$17mln via anti-fraud efforts

Mar 24, 2023  

Gaming software provider SOFTSWISS says the group’s Anti-Fraud team, part of its Managed Services division, reported its “best performance ever” in 2022. The firm’s experts in that field...
Read More
Spring launch for Pragmatic Play ‘Rabbit Garden’ slot

Spring launch for Pragmatic Play ‘Rabbit Garden’ slot

Mar 24, 2023  

Universal Ent affiliate to develop land next to Okada Manila

Universal Ent affiliate to develop land next to Okada

Mar 24, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


April 8, 2028

Completion deadline for 'Marina Bay Sands 2.0', as authorised by Singapore’s authorities



Most Popular

  • Casino op SJM 2024 EBITDA to hit US$510mln: Moody’sCasino op SJM 2024 EBITDA to hit US$510mln: Moody’s March 22, 2023
  • March 18 Macau arrivals nearly 100k, best since pandemicMarch 18 Macau arrivals nearly 100k, best since pandemic March 23, 2023
  • Macau ops getting overseas visitors via private jets: reportMacau ops getting overseas visitors via private jets: report March 21, 2023
  • Sands China woos Singaporeans as Air Macau opens routeSands China woos Singaporeans as Air Macau opens route March 23, 2023
  • Contractor named, work starts for Wynn UAE schemeContractor named, work starts for Wynn UAE scheme March 23, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us