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Te NagaWorld complex, when Naga3 is completed, will include 5,000 hotel rooms, 1,300 gaming tables and 4,500 EGMs. Naga3’s City Room will include 800 tables and 2,500 gaming machines. Te inspiration to


provide so many additional hotel rooms is based on the Tourism Ministry’s estimate that Chinese visitors will exceed 5.5 million by 2025.


Te inspiration to provide so many additional hotel rooms is based on the Tourism Ministry’s estimate that Chinese visitors will exceed 5.5 million by 2025. Te Minister of Tourism had estimated that Cambodia would require an extra 100,000 extra hotel rooms by 2028, of which 60,000 are for the luxury high-end sector.


South East Asian countries are also a core target market. Visitors to Cambodia from Indonesia and Tailand, for example, have increased by 22 per cent and 25 per cent respectively during 2019. Business related travel from Tailand, Indonesia and Malaysia into Cambodia increased by 77 per cent, 65 per cent and 57 per cent respectively last year.


NagaWorld (now called Naga1) offers a total of 755 rooms and suites. Owned by Hong Kong’s NagaCorp Ltd, the casino has a 70-year licence that runs until 2065 and has exclusivity on gaming operations within a 200km radius of Phnom Penh, which runs until 2045.


Te Naga2 complex, which opened in 2017, provides an additional 900 hotel rooms and suites plus gaming space for 300 tables and 2,500 gaming machines. Te development includes the Naga City Walk, which became the first downtown duty free shopping mall to open in 2016.


NagaWorld contributed 1.2 per cent to the nation’s GDP in 2016 and contributed around 27 per cent of local GDP tourism growth. Te two sites currently employ around 8,600 people rising to 18,000 when Naga3 is completed.


NagaWorld group saw revenues increase by 20 per cent in 2019 to $1.75bn with gross profits of $846.3m. Te VIP market accounts for 70 per cent of revenues, whilst public floor table gaming has an 18 per cent share and slots nine per cent. Non-gaming makes up the remaining.


Both public table games and slots also saw increases in revenue by 33 per cent and 25 per cent respectively and this was mostly attributed to the increase in visitors to Naga1 and Naga2 as a result of the rise in tourism last year.


4,840 visitors compared to 537,000 the same month last year. Angkor Wat, the world’s top tourist attraction has seen visitor figures drift off. Last year, the complex received 2.2 million visitors who paid out $100m to enter the gates of the 12th century temple.


It is proving hard to encourage visitors back.


NAGAWORLD GROWTH Despite the pandemic, the Naga3 development is still ongoing and is expected to be completed by 2025. Tis huge project is made up of three


uniquely shaped towers – one 75 storey hotel and two 61 storey hotels. Te $3.5bn project will cover 544,801 sq.m and towers will be connected via an Upper Podium on the 13th floor with pool areas, retail, restaurant, hi tech theme park and conference halls.


Te NagaWorld complex, when Naga3 is completed, will include 5,000 hotel rooms, 1,300 gaming tables and 4,500 EGMs. Naga3’s City Room in Tower One will stretch across four floors and will be used for VVIP gaming and will include 800 tables and 2,500 gaming machines.


Te competitive overseas junket incentive programme was introduced in 2013 and the VIP market has seen an increase of 31 per cent in rollings to $46.6bn – its revenue has increased by 16 per cent to $1.24bn in 2019.


Meanwhile, hotel room revenue increased by seven per cent to $16m and on average there is an 84 per cent daily occupancy rate up from 75 per cent in 2018. Retail income also increased by 63 per cent due to strong sales at Naga City Walk.


NEWSWIRE / INTERACTIVE / MARKET DATA P97


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