Nagacorp Ltd has re-affirmed that its Ariston unit has the exclusive rights to operate a casino anywhere in a 200 km radius of the Cambodian capital, Phnom Penh, for a period of 70 years.
The company made the comments in a statement to the Hong Kong Stock Exchange, where it is listed, saying the board had noted “whether with an intention to cause trouble or not, some
questions on the company’s exclusivity rights.”
The original agreement was reached in 1995. It covers an area within a radius of 200 kilometres of Phnom Penh, except the Vietnam border area, Bokor, Kirirom Mountains, and Sihanoukville.
The statement, signed by chairman Tim McNally, said the company in Sept 2014 "sought, and received, formal written confirmation from the Ministry of Economy and Finance of Cambodia" and that the government had reaffirmed that Ariston continues to enjoy the exclusivity, and that this will, indeed, run until the end of 2035."
It said that the company had "every faith in the Royal Government of Cambodia's ability to assist the group in the enforcement of its rights."
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