• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 29 January 2023
    • 中文
    • 日本語
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
  • 中文
  • 日本語
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
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

2019 Asian Gaming Power 50: Number 14 – Chen Lip Keong

Newsdesk by Newsdesk
Thu 7 Nov 2019 at 13:04
2019 Asian Gaming Power 50: Number 29 – John Alexander
34
SHARES
839
VIEWS
Print Friendly, PDF & Email

FOUNDER, CONTROLLING SHAREHOLDER AND CEO
NagaCorp

POWER SCORE: 1,535
POSITION LAST YEAR: 14

CLAIMS TO FAME
• Majority shareholder in NagaCorp, the first casino company listed in Hong Kong
• Naga holds 70-year license with a 40-year monopoly to 2035 in Cambodia’s capital, Phnom Penh

Celebrating its second anniversary in November, Naga2 changed the game for NagaCorp and its CEO Chen Lip Keong, who owns 66% of the company, boosting his net worth beyond US$5 billion. Dr Chen acquired a large block of those shares by financing construction of Naga2 and he’s poised to repeat the formula for Naga3, an even larger extension of the Phnom Penh integrated resort.

It’s smart to follow the Naga2 playbook. Dr Chen provided US$392 million to build the extension and NagaCity Walk, the underground shopping mall joining it to the original NagaWorld across the street. Naga2’s Paul Steelman designed twin towers added 900 guest rooms, 300 gaming tables, 2,500 machines, a 2,200 seat theater and a dozen F&B outlets.

Gross gaming revenue rose 55% to US$1.4 billion in 2018 from a year earlier, Naga2’s first full year of operation, and increased another 22% in the first half. VIP roll grew 71% in 2018 and 38% in 1H19, while mass revenue expanded 57% and 34% respectively. EBITDA reached US$512 million last year, up 60%, and grew 41% in the first half.

Naga aims to extend its winning formula to Naga3. Pending shareholder approval, Dr Chen will finance half the US$3.5 billion cost by purchasing new shares, with company cash flow covering the rest. Naga has acquired a 16,837 square meter (181,166 square foot) site, more than double its present footprint, behind Naga2. Preliminary plans include expanding gaming, adding 4,000 guests rooms for a complex total beyond 6,000, plus entertainment that leverages its multiple skyscrapers towering above the Mekong River. The company is also building a casino hotel in the Primorsky Entertainment Zone outside Vladivostok, expected to open in 2021.

For the full list of 2019 Asian Gaming Power 50 winners, click here.

Share14Share2
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial: Want to attract foreigners? Make Macau the poker capital of Asia

Editorial: Want to attract foreigners? Make Macau the poker capital of Asia

by Ben Blaschke
Wed 4 Jan 2023 at 11:39

In what has become a point of widespread debate, the Macau SAR Government has called on its gaming concessionaires to...

Singapore swing

Singapore swing

by Ben Blaschke
Wed 4 Jan 2023 at 11:32

Having previously established itself as the gold standard in the operation and regulation of integrated resorts in Asia following the...

Flying high

Flying high

by Ben Blaschke
Wed 4 Jan 2023 at 11:25

Having endured a hectic three years at Marina Bay Sands which saw him promoted to Chief Operating Officer while dealing...

Coming together

Coming together

by Newsdesk
Wed 4 Jan 2023 at 11:21

On 1 August 2022, Singapore officially inaugurated a new gambling regulator, the Gambling Regulatory Authority (GRA), replacing the former Casino...

Softswiss
Evolution Asia
Aristocrat
Solaire
Solaire
Beter
Beter
IGT

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.