Posts Tagged ‘NagaCorp’

Cambodia casino makes Chen a billionaire again

March 30, 2017

After a two year absence, Malaysia’s Chen Lip Keong rejoins the world’s billionaire ranks thanks to the succession and expansion of NagaWorld, the casino resort in Phnom Penh.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

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Revenue sagging, Asian casinos turn to Europe

September 8, 2016

Amid tough times at home Asian casino operators are looking at Europe to restore growth and diversify. Europe is a small, fragmented market compared with Asia, but the newcomers hope the integrated resort model can change the game.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Vladivostok brings Russia to Asian gaming party

March 31, 2016

Lawrence Ho-controlled Summit Ascent has announced first results from its Vladivostok casino, targeting gamblers from China, South Korea and Japan.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Macau goes French, 2016 hot for Manila, India

January 5, 2016

Sands China’s Parisian Macao being a big hit tops predictions for Asian gaming in 2016. A move up for Manila, Indians as a target market, Asian operators moving into Europe and Disney Shanghai as a travel disruptor are other stories to watch as this year unfolds.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Philippine hit, Macau miss in 2015 predictions

December 31, 2015

Last January, my prediction of a Macau recovery in 2015 was well off the mark, but I made better calls on the Philippines, Australia and Japan.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

NagaWorld puts Cambodia on Asia casino map

May 25, 2015

In booming Phnom Penh, NagaWorld is expanding Indochina’s biggest casino resort to make it an even more formidable regional competitor. Parent company NagaCorp’s ambitions also include two Airbus A320s for bring guests from China to Cambodia and a new resort in Russia.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Russia tries to join the Asian gaming boom

June 25, 2014

On Russia’s far east coast, Vladivostok has lined up two Asia gaming operators to build casinos there. The region hopes to cash in on being closer to northern China than Macau.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Japan tiptoes toward casinos

June 20, 2014

Legislators took another small step toward legalizing casinos in Japan this week. Backers hope so-called integrated resorts will open in time for the 2020 Olympics, but the political and bureaucratic process will be a marathon, not a sprint.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Holiday in Cambodia no longer a joke

July 6, 2012

Cambodia has come a long way since the days of the Khmer Rouge and the Dead Kennedys. A recent visit to Phnom Penh showed several sides of Cambodia’s renaissance.

I made the trip to see NagaWorld, the casino resort in Phnom Penh. The hotel features five-star rooms for US$60 a night, an epic breakfast buffet, and a variety of casino designs ranging from a Chinese garden to Dave & Buster’s inspired NagaRock. The whole package comes wrapped in Khmer hospitality with the kind of service you expect in Asia but is increasingly hard to find. NagaWorld recorded a net profit of US$92 million last year, and welcomed 490,000 visitors in the first quarter of this year.

NagaWorld has boosted Cambodia’s national rebuilding efforts. The company provides 3,600 jobs, nine out of ten to Cambodians. Parent NagaCorp became the first Cambodian company to list publicly when it raised US$95 million on the Hong Kong stock exchange in 2006. That listing and NagaWorld’s success have helped encourage fast growing tourism and foreign investment. A meeting with one due diligence consultant yielded a roll call of visiting New York money managers.

Cambodia’s main attraction for overseas visitors remains the ancient Angkor Wat complex, 188 miles (314 kilometers) from Phnom Penh. However, more than half of overseas visitors to Cambodia included the capital in their itineraries for the first time last year. Phnom Penh has plenty of charms. The Royal Palace and National Museum provide reminders of the country’s grand past, with many stunning pieces from Angkor. Opposite the palace begins a wide promenade along the Mekong River that visitors and residents enjoy. The city’s burgeoning nightlife district runs off the promenade, and there are still reminders of the French colonial past, from ochre mansions to baguettes.

Phnom Penh also has two key memorials to Khmer Rouge genocide under Pol Pot that killed up to 2 million people in late 1970s. Tuol Sleng, the prison known as S-21, and Cheoung Ek, the so-called Killing Fields, are deeply moving, no matter how cynical and heartless you may think you are. They also serve as reminders that similar madness can strike anywhere, even absent the race and religion multipliers, even in countries where the people seem as gentle and kind as they are in Cambodia. It’s a great place to visit that gives you a lot to think about.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com.


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