• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Wednesday 30 July 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

NagaCorp ponders notes offering, says cash reserves enough to support 18 months of “minimal revenue” at Cambodia’s NagaWorld

Ben Blaschke by Ben Blaschke
Mon 22 Jun 2020 at 16:02
CambodiaNaga2

NagaWorld

339
SHARES
1.8k
VIEWS
Print Friendly, PDF & Email

Hong Kong-listed NagaCorp says it has enough cash on hand to last 18 months with minimal revenue as it considers conducting an offering of notes to investors to boost liquidity.

Details of the proposal, published Monday, included information on the company’s current financials with NagaWorld’s casino operations having remained suspended since 1 April 2020 as part of Cambodia’s COVID-19 prevention measures. NagaWorld is currently operating its Naga 1 hotel at reduced capacity with limited food and beverage facilities but the hotel at Naga 2 remains closed.

In a filing, NagaCorp said its average monthly expenditures before COVID-19 were US$18.4 million including US$13.9 million in run rate operating costs, US$1.3 million in maintenance CapEx and interest expense of US$3.2 million. The company has since reduced monthly run rate operating costs to US$3.9 million by scaling back facilities and reducing payroll expenses.

An artist’s impression of NagaWorld’s Naga3 expansion.

Citing cash and deposits of US$527.1 million as of 31 May 2020, NagaCorp stated, “After giving effect to the application of proceeds of the Proposed Notes Issue … our liquidity could support approximately 18 months of operating expenditure and interest expenses, with minimal revenue.”

While NagaCorp didn’t reveal the scale of the proposed offering, it did state that its founder, controlling shareholder and CEO, Dr Chen Lip Keong, has committed to subscribe for up to US$45 million “to show his support for and confidence in the Group.”

NagaCorp is also in the process of developing Naga3, its US$3.5 billion NagaWorld expansion set to comprise almost 5,000 new hotel rooms, additional gaming facilities, retail, restaurants, a theme park, spa and conference space. The additional gaming space is planned to house up to 800 more gaming tables and 2,500 EGMs.

RelatedPosts

FBM launches eight new slot themes into Mexican casino market

FBM launches eight new slot themes into Mexican casino market

Wed 30 Jul 2025 at 15:59
Donaco looks inward as Lee Bug Huy named new CEO

Donaco’s Star Vegas impacted by Thai border closures in June quarter as revenue, profit falls

Wed 30 Jul 2025 at 10:32
Kangwon Land GGR up 3.8% year-on-year on higher VIP play

Korea’s Kangwon Land cites positive impact of recently raised casino betting limits as 2Q25 GGR hits US$260 million  

Wed 30 Jul 2025 at 05:37
Newport World Resorts operator Travellers said to be planning US$300 million IR in Cebu

Travellers could spend up to US$2 billion on expanded IR developments in Boracay and Cebu

Mon 28 Jul 2025 at 16:09
Load More
Tags: Cambodiacasinocovid-19integrated resortliquidityNagaCorpNagaWorldPhnom PenhTan Sri Dr Chen Lip Keong
Share296Share5
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

FBM launches eight new slot themes into Mexican casino market

FBM launches eight new slot themes into Mexican casino market

by Newsdesk
Wed 30 Jul 2025 at 15:59

Industry supplier FBM says it has launched eight new slot themes into Mexico, offering five game features and two shared jackpots. The titles are “Mystery Gems”, “Lucky Neko”, “Dragon Festival”, “Han’ei Panda”, “Dragon Jewels”, “Fruity Splash”, “Flow of Fortune” and...

Hong Kong’s Far East Consortium reports first full year gaming revenue after Australian, European acquisitions

Star says deal now “unlikely” to offload Queen’s Wharf Brisbane assets to Hong Kong partners

by Ben Blaschke
Wed 30 Jul 2025 at 13:53

A deal that would have seen Star Entertainment Group’s 50% stake in the multi-billion-dollar Queen’s Wharf Brisbane development acquired by its Hong Kong partners looks unlikely to proceed with the parties having failed to finalize necessary long-form documentation before their...

AUSTRAC launches Federal Court action against clubs giant Mounties for alleged serious and systemic non-compliance with AML laws

AUSTRAC launches Federal Court action against clubs giant Mounties for alleged serious and systemic non-compliance with AML laws

by Ben Blaschke
Wed 30 Jul 2025 at 12:55

Australian AML watchdog AUSTRAC has launched Federal Court civil penalty proceedings against one of the country’s largest clubs, Mount Pritchard District and Community Club – better known as Mounties – for alleged serious and systemic non-compliance with the country’s anti-money...

Lloyd Robson talks Aristocrat’s plans for 2025 IAG Exhibition at Manila’s Newport World Resorts

Lloyd Robson talks Aristocrat’s plans for 2025 IAG Exhibition at Manila’s Newport World Resorts

by Newsdesk
Wed 30 Jul 2025 at 10:34

Aristocrat Gaming’s General Manager, Asia, Lloyd Robson, discusses the company’s status as a founder exhibitor for the inaugural IAG Exhibition at Newport World Resorts, Manila, on 9 and 10 September. He explains why Aristocrat sees the IAG Exhibition as a...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語