Cambodia gaming regulation a positive for Naga

A recent public hearing in Cambodia has confirmed Naga Corp’s exclusivity in Phnom Penh through 2035, said Union Gaming in a note.

“There was a public hearing today on the draft gaming bill that, at some point, will become law. Importantly, Naga’s existing rights are protected… Specifically, the bill sets in stone Naga’s exclusivity within a 200km radius of Phnom Penh through 2035 and its license term through 2065,” said the brokerage.

While the tax rate was not unveiled during the hearing, Union Gaming says it will “continue to believe it will remain very modest and not a significant departure from what Naga is paying today (inclusive of additional 2015 and 2016 contributions).”