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.
