Your Daily Asia Gaming eBrief: Change of the guard at NagaCorp

Friday 17th of June 2022

Good Morning. Cambodia’s NagaCorp recently announced a management shakeup, involving the creation of three new CEO positions, each of which has been awarded to a son of founder and senior CEO Dr. Chen Lip Keong. In this week’s Face-to-Face interview Chairman Tim McNally explains that the company was looking to the future, ensuring that it has broad talent base to take the business through the next stages in its development.

What you need to know

Galaxy Entertainment Group has announced the closure of the Rio and President satellite casinos, which shut their doors from Thursday, staff to be absorbed.
Star Entertainment has denied it broke New South Wales law when it extended millions to high rollers through a Hong Kong unit, but conceded deficiencies.

On the radar

Resorts World Manila allocated $75m expansion fund.
ACMA calls on Australian providers to block major illegal gambling site.
Fitch cuts China’s economic growth forecast on slow Covid easing.

AGB Intelligence

FACE-TO-FACE

NagaCorp injects young blood into leadership

Cambodia’s NagaCorp announced major changes to its regulatory structure as it begins to look towards management beyond founder Dr. Chen Lip Keong. In this week’s Face-to-Face, NagaCorp Chairman Tim McNally tells us about the reasons behind the new structure and how executive responsibility will be shared. He also tells us that the company’s NagaWorld property, which has a monopoly for 200km around the capital Phnom Penh, is seeing solid recovery both from local expatriates and the trickle of tourists that are beginning to re-emerge.