Tag Archives: Cambodia
Vietnam – Donaco in ‘urgent need of capital’ to protect Aristo and Star Vegas
Cambodian and Vietnamese casino operator Donaco International is looking to generate funds of AU$14.4m (US$9.99m) in capital to strengthen its books saying it was in ‘urgent need of capital’ due to the effects of the coronavirus pandemic. Donaco operates Star Vegas Resort and Club in Poipet Cambodia, and Aristo International Hotel in Lao Cai, Vietnam….
Cambodia – NagaCorp looking to sell notes to investors in Asia and Europe
Cambodian casino operator NagaCorp is thinking of offering notes to investors to increase its liquidity, but says it has enough cash reserves on hand to last a year and a half on minimal revenue. The operator said: “The company proposes to conduct an international offering of the Notes to investors in Asia and Europe. In…
Cambodia – Architect releases renderings of Naga3’s Vertical City
Skidmore, Owings & Merrill, the Chicago-based architect behind the design and construction of NagaWorld’s Naga3, has released new images of how the US$3.5bn expansion will look, saying it ‘will be the most important landmark for the city in the years to come.’ Naga3 will see three towers added to the existing casino in the Cambodian…
Cambodia – Donaco finally reaches settlement with Star Vegas’ former owners
Donaco International has finally been able to settle the various proceedings in Singapore, Australia, Thailand and Cambodia with the Thai vendors from Donaco’s acquisition of Star Vegas the Poipet casino, located on the border between Thailand and Cambodia. The former owners include Somboon Sukcharoenkraisri, Lee Bug Tong, Lee Bug Huy, Lee Hoe Property Co. and…
Cambodia – Novomatic and IPG roll out Linked Progressives in Cambodia
The first Novomatic linked progressive jackpots have been installed in Cambodia with local distributor IPG. Novomatic, through its distributor in Cambodia Indo Pacific Gaming (IPG), has brought its Enchanted Fortunes Linked Jackpot to multiple locations around Cambodia. From the start, the machines have created an instant impact amongst players with a variety of linked games…
Cambodia – Authorities confirm 91 casinos have shut following ban
Following an industry wide ban on online and arcade gambling operations, 91 casinos have been shut down according to Cambodia’s Ministry of Economy and Finance. A joint committee comprising ministry officials and police have been inspecting the nation’s casinos since the ban was installed at the beginning of January. Ros Phearun, Deputy Director-General of the Ministry…
Cambodia – Land-based casinos closing in Cambodia as online crackdown kicks-in
More than 7,000 Cambodians have lost their jobs amid reports that 34 casinos have closed in Sihanoukville alone since a ban on foreign-based online gambling came into effect at the New Year. Cambodian officials have said they are committed to enforcing a nationwide ban on foreign-facing online operations driven by Prime Minister Hun Sen’s August…
Cambodia – Donaco ‘in advanced discussions’ to replace CEO and board members
Problems continue to mount at Australian casino operator Donaco International’s with the resignation of its CEO, following in the footsteps of more than half of its board members last week. Mr Arbuckle, who has only been in his position for six months, has provided six months’ notice, and his final day with the company is…
Cambodia – NagaCorp signs ten year extension taking exclusivity to 2045
NagaCorp has signed a ten-year extension of its exclusivity deal to operate casinos in the Cambodian capital of Phnom Penh. It has signed the Second Addendum Agreement between The Royal Government of Cambodia and Ariston, a company incorporated in Malaysia which is a wholly-owned subsidiary of NagaCorp. Under the terms of the Agreement, NagaCorp is…
