Cambodia’s casino king faces new poker hands

NagaCorp

11/03/2019 01:19

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Katrina Hamlin
    HONG KONG, March 11 (Reuters Breakingviews) - Malaysian
tycoon Chen Lip Keong is enjoying an extraordinary monopoly in
Phnom Penh: his $6 billion flagship group, NagaCorp, grew net
profit by more than 50 percent last year. But new rules and an
influx of Chinese tourists will inspire upstarts to try their
luck too.    
    Full view will be published shortly.
    On Twitter https://twitter.com/KatrinaHamlin
    
    CONTEXT NEWS
    - Hong Kong-listed NagaCorp, which runs casino resort
NagaWorld in Cambodia, said on Feb. 13 that its net profit grew
by 53 percent to $391 million in 2018, while revenue rose by 55
percent to $1.4 billion.
    - Cambodian authorities are reviewing new legislation for
the country’s fast-growing gaming sector. The country has issued
as many as 97 casino licenses, according to a
presentation by the director general of the Ministry of Economy
and Finance in 2018.  
    - For previous columns by the author, Reuters customers can
click on  HAMLIN/  
    - SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS: http://bit.ly/BVsubscribe

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
BREAKINGVIEWS - Macau casinos could lose VIPs to junket upstart 
   urn:newsml:reuters.com:*:nL1N1TN0M3
BREAKINGVIEWS - Look beyond Macau to bet on China’s high rollers
    urn:newsml:reuters.com:*:nL4N1QJ1GX
BREAKINGVIEWS - Retiring Macau mogul had first-mover
disadvantage     urn:newsml:reuters.com:*:nL3N1RQ17U
NagaCorp annual report     http://www3.hkexnews.hk/listedco/listconews/SEHK/2019/0213/LTN20190213596.pdf
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Editing by Una Galani and Sharon Lam)
 ((katrina.hamlin@thomsonreuters.com; Reuters Messaging:
katrina.hamlin.thomsonreuters.com@reuters.net))