Consistent growth and high dividends
Highly competitive position
- Monopoly license - Exclusivity within 200km radius of Phnom Penh until 2045
- Long tenure - 70 year licence to 2065
- Unique features - No restrictions on number of tables, Electronic Gaming Machines (EGM) and gaming space
- Competitive tax structure - Competitive corporate tax rate and the lowest gaming tax in the region
Attractive growth prospects
- Double-digit compounded annual revenue growth
- Capacity expansion in Phnom Penh - Naga 2 opened in November 2017; US$3.5bn Naga 3 project expected to complete in 2025
- Key drivers - Growing tourism and business visitation, as well as increasing demands from domestic consumption
Strong financial track record
- High profitability - Emphasis on high margin Mass Market; low labour cost environment
- Relatively low net debt to equity ratio compared to peers' average
- Industry leading ROA and ROIC
- Consistent and high dividend payout - average 60% payout; over US$1bn dividends distributed since IPO
Robust corporate governance
- Robust governance framework
- US$ based earnings and reporting
- Financial Action Task Force (FATF) compliant anti-money laundering practices
- Comprehensive AML/ anti-corruption policies and procedures
