NagaCorp Ltd (HKG: 3918) is a major casino operator and gaming company listed on the Hong Kong Stock Exchange. Unlike its peers such as Galaxy Entertainment or Sands China that focus on the Macau market, NagaCorp’s casinos are located in the less affluent but fast-growing market of Cambodia. 

In this article, we will take a closer look at NagaCorp’s business profile, growth history, earnings trend, and its prospects.   

Business Overview 

NagaCorp operates NagaWorld, the largest gaming and entertainment complex in the Mekong Region located in Phnom Penh. It comprises hotels with 1,600 rooms, casinos with more than 500 gaming tables, and an underground duty-free shopping mall.  

The group enjoys a 70-year casino license that will run till the year 2065. Its exclusive rights to run casinos within a 200-km radius of Phnom Penh have just been extended by 10 years to 2045. 

NagaWorld complex during development. Source: Kiensvay

NagaCorp is currently building Naga 3 which will