• 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 to net US$290 mln from notes issuing

May 15, 2018 Newsdesk Latest News, Rest of Asia, Top of the deck  


NagaCorp to net US$290 mln from notes issuing

Cambodian casino operator NagaCorp Ltd announced on Tuesday the details of its note offering intended to raise funds to promote further growth of the firm’s gaming business and to refurbish the NagaWorld property (pictured), its casino resort in Cambodia’s capital Phnom Penh.

The casino operator said it has entered into a purchase agreement with Credit Suisse (Hong Kong) Ltd and Morgan Stanley and Co International Plc in connection with the firm’s issuing of notes in the aggregate amount of US$300 million. The notes, maturing on May 21, 2021, will bear interest at the rate of 9.375 percent per annum, according to NagaCorp’s Tuesday filing to the Hong Kong Stock Exchange.

NagaCorp said it expected net proceeds of approximately US$290 million from the note issuing exercise. The proceeds are intended to be used to “promote gaming business growth, particularly in the VIP gaming segment”, and to “refurbish the hotel rooms in Naga1″.

The Hong Kong-listed company has an exclusive licence to operate casinos in Cambodia’s capital and surroundings. It started operations with the NagaWorld property, now referred to as Naga 1, which opened in December 2006. That property now links to Naga 2, an expansion that opened in November last year.

Naga 1 and Naga 2 combined are now described as the NagaWorld Complex, and are connected via an underground shopping mall known as NagaCity Walk.


  • tweet
Related articles
  • Donaco to restart gaming operations at Star Vegas
    Donaco to restart gaming operations at...

    Jun 17, 2022  

  • NagaWorld to launch fresh premium mass gaming area in 2H
    NagaWorld to launch fresh premium mass...

    Jun 13, 2022  

More news
  • Only 2 Macau satellites closed as concessions extended
    Only 2 Macau satellites closed as...

    Jun 29, 2022  

  • LVS full recovery may take until 2024: Moody’s
    LVS full recovery may take until 2024:...

    Jun 29, 2022  


Latest News

Only 2 Macau satellites closed as concessions extended

Only 2 Macau satellites closed as concessions extended

Jun 29, 2022  

Only two of Macau’s 18 satellite casinos – the Rio Casino and the President Casino – have closed amid changes to the city’s regulatory system for such properties, and against...
Read More
LVS full recovery may take until 2024: Moody’s

LVS full recovery may take until 2024: Moody’s

Jun 29, 2022  

Satellite casino ops still to Dec 31 at Casa Real, Grandview

Satellite casino ops still to Dec 31 at Casa Real,

Jun 29, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

"There is still no clarity about when border easing for Macau will occur. In the end these changes are needed to see a rebound for Macau business"

Vitaly Umansky, Louis Li and Shirley Yang

Analysts at brokerage Sanford C. Bernstein



Most Popular

  • SJM to make 2nd of pledged staff subsidy payments for 2022SJM to make 2nd of pledged staff subsidy payments for 2022 June 27, 2022
  • Parisian quarantine hotel as Macau Covid cases near 360Parisian quarantine hotel as Macau Covid cases near 360 June 27, 2022
  • Covid-19 test certificate to enter Macau casinosCovid-19 test certificate to enter Macau casinos June 27, 2022
  • Macau casino Covid tests from Fri, ops pay for staff testsMacau casino Covid tests from Fri, ops pay for staff tests June 28, 2022
  • MGM China gets deal for use of MGM brands renewedMGM China gets deal for use of MGM brands renewed June 27, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us