Tan Sri Dr. Chen Lip Keong, chairman and CEO of NagaCorp, has increased his ownership of the company by buying 6 million additional shares. He paid a total of HK$43.8 million for the shares.
NagaCorp issued a statement late last week revealing that Chen had purchased two million shares on 12 September at a price of HK$7.08 per share for a consideration of HK$14.2 million, followed by another four million shares at HK$7.41 for a consideration of HK$29.6 million. In total he paid HK$43.8 million. The purchase raised Chen’s stake to 65.98 percent, for a total of 2.86 billion shares.
With the opening of Naga2 at the Cambodian integrated resort NagaWorld in late 2017, NagaCorp’s gross gaming revenues rose 85 percent in the first half of 2018, with net profits up 20 percent. The company is now building a casino resort in the Russian special economic zone of Vladivostok.
