• 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

NagaCorp founder Chen shares in trust for succession plan

Jul 25, 2022 Newsdesk Latest News, Rest of Asia, Top of the deck  


NagaCorp founder Chen shares in trust for succession plan

A total of nearly 67 percent of issued shares in casino operator NagaCorp Ltd, that were being held either directly or indirectly by the firm’s founder Chen Lip Keong, have been transferred to a family trust he established “for the purposes of succession planning”.

That is according to a Friday filing by the company to the Hong Kong Stock Exchange. NagaCorp runs the NagaWorld casino complex (pictured) in the Cambodian capital Phnom Penh, under a long-duration monopoly licence.

Immediately prior to the share-transfer exercise – which took place from July 19 to 20 – the trustee of the Sakai Trust had indirectly held 2.55 percent of the issued share capital of NagaCorp.

After the exercise, the trust holds – either directly or indirectly – 69.23 percent of the issued shares of NagaCorp.

Under the shift to the trust, Mr Chen transferred just over 1.94 billion shares directly held by him, and making up 44.76 percent of the issued share capital; and just below 951.8 million shares indirectly held by him, through a vehicle called ChenLa Foundation, making up 21.93 percent of the issued share capital.

In April, NagaCorp said it had appointed three additional people designated simultaneously in a chief executive role. The three are sons of the founder Mr Chen, who was redesignated as “senior chief executive” with effect from April 5.


  • tweet
Related articles
  • Cambodia’s new casino tax system now in operation: report
    Cambodia’s new casino tax system...

    Jan 10, 2023  

  • Tenders on 58pct of US$120mln in Naga notes up for rebuy
    Tenders on 58pct of US$120mln in Naga...

    Nov 15, 2022  

More news
  • Return of tours good for mass floor traffic: observers
    Return of tours good for mass floor...

    Feb 03, 2023  

  • S.Korea casino op GKL’s January sales up 230pct y-o-y
    S.Korea casino op GKL’s January...

    Feb 03, 2023  


Latest News

Return of tours good for mass floor traffic: observers

Return of tours good for mass floor traffic: observers

Feb 03, 2023  

The imminent return of package tours from mainland China will not only help boost Macau’s tourism businesses, but is also expected to help casinos gain more foot traffic in their mass gaming...
Read More
S.Korea casino op GKL’s January sales up 230pct y-o-y

S.Korea casino op GKL’s January sales up 230pct y-o-y

Feb 03, 2023  

Aristocrat completes acquisition of Roxor Gaming

Aristocrat completes acquisition of Roxor Gaming

Feb 03, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”We are confident that the Philippine gaming sector will be able to fully recover, or even surpass its pre-pandemic earnings soon”

Alejandro Tengco

Chairman and chief executive of Pagcor



Most Popular

  • Jaw-dropping wagers in Macau CNY survey: CitigroupJaw-dropping wagers in Macau CNY survey: Citigroup February 2, 2023
  • Mainland tour groups to Macau to resume Feb 6: govtMainland tour groups to Macau to resume Feb 6: govt February 3, 2023
  • Return of tours good for mass floor traffic: observersReturn of tours good for mass floor traffic: observers February 3, 2023
  • Aruze Gaming America opts financial rejig after legal matterAruze Gaming America opts financial rejig after legal matter February 2, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us