NagaCorp negotiates on electronic gaming business area

NagaCorp Ltd. announced it has entered into an agreement with C.M.C Phnom Penh Import Export Co. to grant the company a designated electronic gaming business in NagaWorld.

CMC has agreed to pay NagaCorp $40 million to set up the gaming space on the ground floor of the Phnom Penh casino.

CMC, owned by independent Chinese investors, ”has expressed confidence in the investment climate in Cambodia, and in the prospects for an EGB to be operated within NagaWorld…” NagaCorp said.

NagaCorp said CMC is understood to be interested in the EGB due to the potential visitor numbers that will be attracted to the China Duty Free located within the NagaCity Walk due to open later this year. The company also sees potential “as a result of the anticipated numbers of tourist arrivals from China brought in by China International Travel Services Ltd, acting as the general sales agent for Bassaka Air.”