Analysts Say Naga 2 a Winner

Sat, Nov 11, 2017

Gaming analysts say the addition of Naga 2 (l.) to the NagaWorld casino complex Phnom Penh will generate $113 million in its first full year of operations. The $369 million expansion is targeting VIP players.

Adding VIP to mass

Naga 2, the $369 million expansion of NagaCorp’s flagship casino complex in the Cambodian capital of Phnom Penh, could be a winner if it successfully attracts high rollers from China.

According to Casino News Daily, the property at NagaWorld includes a hotel with 900 new rooms and a casino floor that will offer 300 gaming tables and nearly 2,500 slot machines once it is fully open.

Factoring in the extension, NagaWorld will have a total of 1,600 hotel rooms, just under 3,000 slots and more than 550 gaming tables along with restaurants, a spa, convention and exhibition facilities and an underground retail complex.

Union Gaming Securities Asia Ltd. estimated that the newly launched Naga 2 could generate earnings of $113 million during its first year of operations, CND reported. CIMB Securities analyst Michael Ting said NagaWorld can attract more high rollers with increased charter flights to and from China; more junket operations; and strong regional promotions.

By adding a strong VIP component, Naga 2 could strengthen NagaWorld, which is more mass market-oriented.

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