The chief executive officer and leading shareholder in NagaCorp Ltd. will have a majority stake in the Cambodian gaming firm as of this week. Chen Lip Keong and related parties in NagaCorp’s entire issued share capital will increase from 39.98 percent to 65.42 percent, the Hong Kong-listed firm stated. The transaction is expected to be complete on or before August 18, reported GGRAsia.
NagaCorp operates NagaWorld, Cambodia’s largest casino about 125 miles from the capital city of Phnom Penh. NagaWorld serves foreigners only, and bars Cambodian nationals from playing in its casino. More than 91 percent of shareholders approved the deal for Chen.
