NagaCorp Ltd, a HKEx listed casino firm based in Malaysia with operations in Cambodia and elsewhere, has announced they will be selling 190,000,000 of their existing placing shares in a placing and subscription agreement with a minimum of six parties, based on a Hong Kong Stock Exchange filing placed yesterday (PDF). The proceeds earned from the sale will reach $120 million in US dollars and will be used for the fit-out of their TSCLK Complex in association with the NagaCity Walk.
The new TSCLK Complex should open around mid-2017 and will be used by the company for the purpose of general corporate use. The complex will be connected to the NagaCity Walk and NagaWorld, which is the flagship casino resort of the company, located in Phnom Penh.
Just a few weeks ago, the NagaCity Walk had its soft opening to prepare for full operation. The shopping complex is connected to NagaWorld, giving visitors an all-around experience when visiting the Cambodian capital.
NagaCorp just acquired the Citywalk Group back in May, which is the owner of NagaCity Walk. It cost NagaCorp $94 million to do so. Speaking with GGRAsia, the Chairman of NagaCorp, Tim McNally, was asked if NagaCity Walk would have an official opening and the response was that more of the facility would be allowed to open but McNally is not sure if this could be called an official launch or a party. Regardless, the complex should be ready later in the fall.
McNally was also asked about Naga2, an extension of gaming space as well as hotel for the resort. The chairman was able to confirm that the space would be ready by the middle of next year. The Naga2 facility will be connected to NagaCity Walk which is connected to NagaWorld. The new venue will include over 1,000 guest rooms in the hotel space including luxury suites. As many as 300 gaming tables plus 500 electronic gaming machines will be provided for casino gamblers.