Industry Bounce Back in ASEAN: Casino operator NagaCorp To Build $350m resort in Phnom Penh

Casino company NagaCorp this week disclosed plans for a non-gambling hotel near Cambodia’s well-known Angkor temples on 75 hectares of land rented from the federal government as reported by Nikkei

The Hong Kong-listed business runs the nation’s biggest casino site, NagaWorld, in Phnom Penh.

In a statement to investors, Naga said the proposed advancement in Siem Reap Province, provisionally called “Angkor Lake of Wonder,” would cost $350 million and see its first phase finished by 2025.

In the neighboring region, Thailand’s betting and Malaysia’s Genting stock rose to its highest amount since the pandemic began (which is about 9 months)

Asian casino companies stock rose 4.81%, or 13 cents to RM2.83 with over 19 million shares traded. While the Malaysian casino giant Genting is recovering, online casino brands in Malaysia are thriving as players in the region turn to the web for their playing needs. Some of the fastest rising brands such as AW8 are leading the way in their region.  .

One reason for this is the government’s move to allow inter-state travel will enable the positive outlook for Genting to continue to rise as people flock back to the live table. 

Meanwhile in Macau, The newly-rebranded Macau gambling establishment hotel the Londoner Macao opened bookings on December 15 for stays starting on January 22 next year at its newly revamped Londoner Hotel, according to the resort’s main account on Instagram. This is a great bullish news for the owner, Sands China Ltd and the industry in Asia as well, seeing bullish momentum during the pandemic. 

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