NagaCorp Ltd. (the "Company" or "NagaCorp", together with its subsidiaries, the "Group") is one of the world's most profitable gaming companies, and the largest Integrated Resort operator in the Mekong Region. Our wholly-owned subsidiary, NAGAWORLD LIMITED owns, manages and operates Phnom Penh's only integrated hotel and entertainment complex. The Group owns a casino license with a 70-year tenure until 2065 with an exclusive right to operate casinos within a 200KM radius of Phnom Penh until 2045.
The Company was the first gaming company to launch an initial public offering ("IPO") on The Stock Exchange of Hong Kong Limited ("SEHK"), and was the first foreign-owned company with operations in Cambodia ever listed overseas. Since its listing in 2006 to date, NagaCorp has achieved significant success in private-public sector cooperation. It has raised the international profile of its host country, contributing to local tourism Gross Domestic Product ("GDP") and attracting Foreign Direct Investments ("FDI").
Our founder, the late Tan Sri Dr Chen Lip Keong emphasized managing "a First-World Company in a Developing Nation" with transparency and compliance aligned to global best practices, setting the standard of governance for the Group; in addition, over the years, the Group's achievement of strong financial success has resulted in impressive dividends and delivered growth to the shareholders of the Company.
Company Background
The Group began its gaming operations in 1995 under the leadership of the late Tan Sri Dr Chen Lip Keong. The Group owns and operates the largest integrated hotel and entertainment complex in the Mekong Region. NagaCorp launched its IPO on SEHK in 2006, making it the first gaming company listed on SEHK and the first company with operations in Cambodia listed on a foreign stock exchange.
With a 70-year gaming licence until 2065, the Group also has an exclusive right to operate casinos within a 200KM radius of Phnom Penh (except the Cambodia-Vietnam border area, Bokor, Kirirom Mountains and Sihanoukville) until 2045. The Group's flagship property, NagaWorld, is located in the heart of Phnom Penh City, in close proximity to Techo International Airport, Royal Palace of Cambodia and other key attractions. Boosted by the opening of Naga 2 in 2017, the combined complex of NagaWorld has more than 1,600 luxurious rooms and suites, 20 award-winning food and beverage outlets, as well as an award winning spa and other luxurious entertainment outlets such as a roof-top swimming pool and clubs.
The opening of NagaCity Walk, an underground shopping mall, in August 2016 and Naga 2 in November 2017 have significantly increased the variety, quality and quantity of NagaWorld's gaming, entertainment and leisure facilities, enhancing the Group's competitive position. NagaWorld's gaming facilities comprise approximately 500 gaming tables and 2,000 electronic gaming machines. NagaWorld is also widely recognised as a popular meetings, incentives, conventions and exhibitions destination, with over 1,800 square metres of highly flexible event space spread across five unique venues. The Grand Ballroom offers over 1,100 square metres of space with capacity of 700 guests for banquets and up to 1,600 guests for theatre style meetings. The 2,000-seat Nations Art Bayon Academy theatre was the first in Cambodia to be equipped with state-of-the-art video mapping technology, a perfect venue for a variety of shows and events.
The Group is committed to world class corporate governance practices and is dedicated to a zero-tolerance policy on corruption and money laundering. It follows the best international standards and practices in dealing with anti-corruption and anti-bribery issues, which include the Organisation for Economic Co-operation and Development Guidelines, the the United Nations Convention Against Corruption and the principles supporting the Foreign Corrupt Practice Act. The Group also complies with the Financial Action Task Force recommendations, following best practices and imposing strict rules on anti-money laundering ("AML") controls in daily operations. The board of directors of the Company has appointed an independent consultancy firm to review the Group's internal controls on AML semi-annually.
We were one of the first foreign-invested private companies in the Kingdom of Cambodia. Over the years, the Group has continuously contributed to the country's economic growth and social development. Today, as one of Cambodia's largest private sector employers and economic contributors, the Group plays an even more important role in the community in which it operates. Through its all-encompassing 'Nation Building Through NagaWorld' corporate social responsibility programmes, we continue to support the growth and development of its host country.