• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Wednesday 27 September 2023
    IAG
    Advertisement
    • Newsfeed
    • Mag Articles
    • Video
    • Opinion
    • Tags
    • Regional
      • Africa
      • Australia
      • Cambodia
      • China
      • CNMI
      • Europe
      • Hong Kong
      • India
      • Japan
      • Laos
      • Latin America
      • Malaysia
      • Macau
      • Nepal
      • New Zealand
      • North America
      • North Korea
      • Philippines
      • Russia
      • Singapore
      • South Korea
      • Sri Lanka
      • Thailand
      • Vietnam
    • Events
    • Consulting
    • Contributors
    • SUBSCRIBE FREE
    No Result
    View All Result
    IAG
    • Newsfeed
    • Mag Articles
    • Video
    • Opinion
    • Tags
    • Regional
      • Africa
      • Australia
      • Cambodia
      • China
      • CNMI
      • Europe
      • Hong Kong
      • India
      • Japan
      • Laos
      • Latin America
      • Malaysia
      • Macau
      • Nepal
      • New Zealand
      • North America
      • North Korea
      • Philippines
      • Russia
      • Singapore
      • South Korea
      • Sri Lanka
      • Thailand
      • Vietnam
    • Events
    • Consulting
    • Contributors
    • SUBSCRIBE FREE
    No Result
    View All Result
    IAG
    No Result
    View All Result

    2018 Inside Asian Gaming Power 50: Number 14 – Chen Lip Keong

    Newsdesk by Newsdesk
    Fri 23 Nov 2018 at 21:36
    Print Friendly, PDF & Email

    14 Chen Lip Keong

    FOUNDER, CONTROLLING SHAREHOLDER AND CEO
    NagaCorp

    POWER SCORE: 1,393
    POSITION LAST YEAR: 18

    CLAIMS TO FAME
    Created NagaWorld, the Mekong region’s largest integrated resort, in Cambodian capital Phnom Penh
    First casino enterprise listed on the Hong Kong stock market
    Building a new casino hotel outside Vladivostok in Russia’s Far East

    Founded as a casino on a barge, NagaWorld entered the big time with its Naga2 extension, opened in November last year. Adding the Paul Steelman-designed twin towers produced a world class complex with 1,700 guest rooms, 600 gaming tables, 5,000 EGM positions, retail by China Duty Free and a world class theater that put Phnom Penh on the regional gaming map. Junkets from Macau and beyond visit frequently and Naga affiliate Bassaka Air flies in mainland China tourists in cooperation with China International Travel Services.

    Dr Chen Lip Keong, a Malaysian who like Prime Minister Mahathir Mohamad studied medicine but found his calling elsewhere, founded and runs Naga. A successful property developer at home, he came to Cambodia as a part of Mahathir’s Prosper Thy Neighbor policy, hoping to drill for oil offshore. He struck a 70-year casino license in Phnom Penh including a 40-year monopoly within a 200 kilometer (124 mile) radius, while Cambodia was an investment pariah, still picking up the pieces from Khmer Rouge genocide and civil war.

    After moving onshore in 2003, Dr Chen took NagaCorp public on Hong Kong’s stock exchange in 2006, the first casino company listed there and the first business in Cambodia listed anywhere. When banks wouldn’t offer reasonable financing for Naga2, Dr Chen bet US$392 million of his own money through a convertible bond offering and now owns 66% of NagaCorp, valued at US$2.6 billion. Total capital expenditure on NagaWorld is an estimated US$1.5 billion and this year’s revenue is expected to rise 48% to US$1.4 billion, according to Union Gaming.

    Naga hopes to duplicate its Cambodia success in another frontier market, Russia’s Far East. It’s building a US$350 million casino hotel in the Primorsky Entertainment Resort City outside Vladivostok, expected to open in 2020. And in Phnom Penh, look for Naga3.

    For the full list of 2018 Asian Gaming Power 50 winners, click here.

    Current Issue

    Editorial – Winning margins: how Macau is set to become more profitable than ever before

    Editorial – Winning margins: how Macau is set to become more profitable than ever before

    by Ben Blaschke
    Wed 30 Aug 2023 at 08:49

    If there were two key takeaways from the recent Q2 earnings season in Macau, they were that margins in 2023...

    PAGCOR’s Alejandro Tengco

    PAGCOR’s Alejandro Tengco

    by Andrew W Scott
    Tue 29 Aug 2023 at 13:24

    IAG sits down with PAGCOR Chairman and CEO Alejandro Tengco to discuss his 12 months in the job and ambitions...

    A September to remember

    A September to remember

    by Ben Blaschke
    Tue 29 Aug 2023 at 12:37

    IAG presents the first ever Super September, comprising the IAG Academy Summit and two exciting networking events at Manila’s Newport...

    2023  IAG Academy IR Awards: Official Nominations

    2023 IAG Academy IR Awards: Official Nominations

    by Newsdesk
    Mon 28 Aug 2023 at 18:50

    Winners will be announced at the 2023 IAG Academy IR Awards Gala Dinner, to be held in The Ballroom at...

    Softswiss
    Evolution Asia
    Aristocrat
    Solaire
    Evoplay
    Hann
    Hann
    Okada Manila
    BETER
    Okada Manila

    Related Posts

    The 2022 Asian Gaming Power 50 list

    Thriller in Manila

    by Ben Blaschke
    Thu 8 Dec 2022 at 15:21

    In 2022, IAG’s annual Asian Gaming Power 50 Black Tie Gala Dinner moved out of Macau and into the Philippines for the first time in its 15-year history.

    The 2022 Asian Gaming Power 50

    by Andrew W Scott
    Mon 14 Nov 2022 at 02:48

    Long established as the definitive list of the most influential figures and personalities in the regional industry, IAG’s Asian Gaming Power 50 celebrates its 15th anniversary in 2022.

    2022 Asian Gaming Power 50: Meet the panel

    2022 Asian Gaming Power 50: Meet the panel

    by Newsdesk
    Mon 14 Nov 2022 at 01:54

    IAG introduces the eight members of the judging panel who have determined this year’s Asian Gaming Power 50 list.

    The 2022 Asian Gaming Power 50 list

    The 2022 Asian Gaming Power 50 list

    by Newsdesk
    Mon 14 Nov 2022 at 01:26

    The countdown begins! IAG’s full list of the men and women who made our industry tick in 2022.



    IAG

    © 2005-2023
    Inside Asian Gaming.
    All rights reserved.

    • SUBSCRIBE FREE
    • NEWSFEED
    • MAG ARTICLES
    • VIDEO
    • OPINION
    • TAGS
    • REGIONAL
    • EVENTS
    • CONSULTING
    • CONTRIBUTORS
    • MAGAZINES
    • ABOUT
    • CONTACT
    • ADVERTISE

    No Result
    View All Result
    • Subscribe
    • Newsfeed
    • Mag Articles
    • Video
    • Opinion
    • Tags
    • Regional
    • Events
    • Contributors
    • Consulting
    • Magazines
    • Advertise
    • Contact
    • About

    © 2005-2023
    Inside Asian Gaming.
    All rights reserved.

    • English