Naga Casino expands its business scope and will invest in integrated resort projects

The Cambodian industry giant Casino Naga Holdings (Naga) released a mid-2020 report and plans to invest in integrated resorts (IR) in Siem Reap and Sihanoukville to expand its business and generate new non-gambling revenue.After the release of the mid-year report, Naga plans to investigate the market in Siem Reap and Sihanoukville to explore the feasibility of the project.

Despite the impact of the epidemic in the first half of the year, Naga Casino's revenue is still considerable, with total gaming revenue of US$372 million and net profit of US$20.6 million. However, it is far from the previous expectations. Since the August 18th gambling ban was issued last year, the gaming industry has suffered heavy losses. Coupled with the impact of the epidemic, the Naga Casino has been closed for half a year. Uncontrollable factors affect the market of the gaming industry. In order to reduce similar risks, Naga has expanded its business scope and will build integrated resort projects.

In addition, according to Cambodian media reports, the Naga3 project, which was built by Naga Holdings at a cost of 3.5 billion US dollars, has recently completed its engineering review and will be officially put into construction at the end of 2020.

It is reported that the Naga3 project is expected to be completed in 2025, with a construction area of 544,000 square meters, three times larger than Naga1 and Naga2. After completion, Naga3 will become the tallest landmark building in Phnom Penh, with nearly 5,000 suites and a capacity of 1,300 gaming tables. A large-scale casino resort project with gaming tables and 4,500 electronic game devices promotes the development of Cambodia's tourism industry.