Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - NagaCorp sits out South Korean casino offering

NagaCorp sits out South Korean casino offering

NagaCorp sits out South Korean casino offering

NagaCorp, the Hong Kong stock exchange-listed parent company of NagaWorld, is not bidding for a South Korean casino permit, the company said in a filing to the exchange.

The casino operator was reported earlier this year to be one of 34 entities taking part in an initial “request for concept” for an integrated resort licence in South Korea, where the government intends to issue two new licences.

Bidders are required to commit at least $850 million capital, including at least $500 million from a foreign investment partner.

“The company is of the view that the expected economic returns of such an investment do not meet the company’s benchmark in evaluating return on investments and is therefore not in line with its policy of selective expansion,” NagaCorp said.

RECOMMENDED STORIES

  • Breaking: PM says prominent human rights NGO ‘must close’

    Prime Minister Hun Sen has instructed the Interior Ministry to investigate the Cambodian Center for Human Rights (CCHR) and potentially close it “because they follow foreigners”, appearing to link the rights group to the opposition Cambodia National Rescue Party's purported “revolution”. The CNRP - the

  • Rainsy and Sokha ‘would already be dead’: PM

    Prime Minister Hun Sen on Sunday appeared to suggest he would have assassinated opposition leaders Sam Rainsy and Kem Sokha had he known they were promising to “organise a new government” in the aftermath of the disputed 2013 national elections. In a clip from his speech

  • Massive ceremony at Angkor Wat will show ‘Cambodia not in anarchy’: PM

    Government officials, thousands of monks and Prime Minister Hun Sen himself will hold a massive prayer ceremony at Angkor Wat in early December to highlight the Kingdom’s continuing “peace, independence and political stability”, a spectacle observers said was designed to disguise the deterioration of

  • PM tells workers CNRP is to blame for any sanctions

    In a speech to workers yesterday, Prime Minister Hun Sen pinned the blame for any damage inflicted on Cambodia’s garment industry by potential economic sanctions squarely on the opposition party. “You must remember clearly that if the purchase orders are reduced, it is all