NagaCorp Ltd, the operator of Phnom Penh’s NagaWorld casino and hotel complex, announced that it has pulled out of the running for exclusive rights to build and operate a casino in Cyprus, according to an announcement on the Hong Kong Stock Exchange yesterday.

NagaCorp confirmed that it was in the second stage of licensing procedures that the Cypriot government required a Request for Proposal (RFP).

“After deliberation, [NagaCorp] wishes to announce that it will not be participating in the RFP,” it said.