NagaCorp announces $122 million placing for Naga 2 expansion

Cambodian casino operator NagaCorp Ltd has made a placing and subscription agreement to sell a total of 190 million shares to not less than six parties, according to its filing to the Hong Kong Stock Exchange on Thursday.

The placing shares represent approximately 8.37 percent of the issued shares of the company, which it intends to use for the “fit-out’ of the TSCLK Complex, it said.

NagaCorp is currently in the development of Naga2, an expansion project with a total built-up area of approximately 110,105 square metres. The expansion includes NagaCity Walk and the TSCLK Complex which features approximately 1,000 hotel rooms, 38 luxury VIP suites, and additional gaming space (up to 300 gaming tables and 500 electronic gaming machines).

The TSCLK complex is expected to be operational by around mid-2017, it added.