Cambodia-based NagaCorp recently sent a high-level delegation to Australia’s Sunshine Coast, suspected to be scouting for IR development opportunties in the Maroochydore City Centre, local media reports. According to Sunshine Coast Daily, the delegation from NagaCorp travelled to the coast for a two-and-a-half hour fly-in, fly-out visit. It did not specify the timing of this visit. […]
NagaCorp hosted a media tour on 2 November in Phnom Penh to showcase the upscale new addition to NagaWorld. With the theme “Discover Gold”, the soft opening this week of Naga 2 is strategically set to coincide with one of Cambodia’s biggest holidays – the water festival – during which many Cambodians travel to Phnom […]
Hedge fund Nine Masts Capital is challenging the revised terms of the convertible bond deal between NagaCorp and its founder, arguing that the agreement would short change minority shareholders, Bloomberg Quint reports. In March, NagaCorp reduced the conversion price of convertible debt that the company issued to chief executive Tan Sri Dr. Chen Lip Keong. […]
Founder and CEO of Nagacorp, Tan Sri Dr. Chen Lip Keong is now seeking a concurrent conversion of the TSCLK Complex and NagaCity Walk bonds, rather than his previously planned staggered conversion. At the end of March, NagaCorp announced that Dr Chen was seeking to gain full control of the casino operator by exercising conversion […]
A proposed conversion of TSCLK Complex convertible bonds, owned by NagaCorp CEO Dr. Chen Lip Keong, would take his ownership to above 50 percent, up from his current 39 percent, said Union Gaming in a note on Monday. The TSCLK Complex (Naga 2) and NagaCity Walk was funded initially by Dr. Chen, at and agreed […]
Founder, controlling shareholder and CEO of Nagacorp, Tan Sri Dr. Chen Lip Keong is looking to gain full control of the casino operator by exercising conversion rights in respect of the TSCLK Complex Convertible Bonds. According to the company’s filing to the Hong Kong Stock Exchange, the move would result in Dr. Chen increasing his […]
NagaCorp said its CEO and Executive Director Tan Sri Chen Lip Keong has boosted his stake in the operator of Cambodia’s largest casino. On June 19th, he made on-market purchases on The Stock Exchange of Hong Kong Limited of an aggregate of 5.4 million shares at an average price of approximately HK$7.3342 per share for […]
NagaCorp CEO Tan Sri Dr. Chen Lip Keong has increased his stake in his casino company, buying an aggregate of six million additional shares on Wednesday. According to a filing from Nagacorp on Friday, Dr. Chen bought two million shares for a total consideration of HK$14.2 million (US$1.8 million) on Wednesday, and then four million […]
NagaCorp says 90 percent of its $3.5 billion Naga 3 property will consist of non-gaming amenities, with a strong focus on high-tech elements.
Karambunai Corp Bhd’s largest shareholder, Tan Sri Dr. Chen Lip Keong is planning to privatize the company in a deal worth an estimated RM184.7 million (US$44.2 million), local media reports. According to the company’s website, Karambunai is an integrated company involved in the tourism industry in Sabah, Malaysian Borneo and other parts of Malaysia. The […]
The first casino in Russia’s Far East, which has been touted as a potential Macau of the north, has officially opened after lengthy delays.The Tigre de Cristal held its soft launch on Oct. 8th in the Primorye gaming zone near the city of Vladivostok. The debut of the casino has been postponed multiple times since 2011, but the pace of development picked up when Asian investors became involved in the project in 2013. The resort is expected to appeal mainly to travellers from northern China and Korea, although unlike in many other Asian countries locals will also be able to participate. About 300 million people live within a three-hour flight of Vladivostok.