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NagaCorp Holds Ground Breaking Ceremony for Naga2 Development

NagaCorp Ltd.
2012-11-08 12:52 1354

The finest business, leisure and entertainment integrated complex in Indochina!

HONG KONG, Nov. 8, 2012 /PRNewswire/ -- NagaCorp Ltd. ("NagaCorp" or the "Company", SEHK stock code: 3918), the largest hotel, gaming and leisure operator in Cambodia, held the official ground breaking ceremony yesterday for Naga2, a large-scale mixed-use expansion that will be completed by 2015. Situated 200 meters from the existing NagaWorld, the Naga2 expansion project will feature two 5-star hotel blocks, a world-class gaming and entertainment complex, an elegant theatre, luxury shopping boutiques, as well as top dining selections in the country.

Spanning a total of 1.2 million square feet ("sq ft"), Naga2 will be the first integrated resort in Cambodia that comprises two luxury hotels and a podium block. The first luxury hotel has more than 1,000 rooms housed in a 24-storey block with a rooftop pool. The second hotel consists of 50 VIP luxury suites spread across 22 storeys -- a first for gamers anywhere in the world -- and will provide patrons with an exclusive and unique gaming experience.

The podium block will incorporate an elegant theatre with state-of-the-art facilities which can accommodate an audience of 3,000. This makes Naga2 the perfect choice for sizeable shows and performance events of world-class standards, bringing Phnom Penh's entertainment scene to a new level. Another highlight of Naga2 will be the 200,000 sq ft of retail space which stretches from NagaWorld to Naga2, also known as the NagaCityWalk. This distinctive mall will offer a spectrum of luxury fashion shopping boutiques, as well as top restaurants to cater to patrons. The integrated resort will be serviced by 532 parking bays.

The transaction for NagaCorp to acquire Naga2 upon its completion was approved by independent shareholders in January 2012. This business move was necessary to cater for further expansion beyond NagaWorld -- more gaming facilities, retail space, and hotel rooms are required to support the growth of the gaming market in Indochina and Greater China. The completion of Naga2 will sharpen the company's competitive edge in the Asian entertainment gaming market, especially in light of new and developing integrated gaming projects underway in Vietnam, the Philippines, and Macau. NagaCorp's latest announcement of its operational highlights on 8 October 2012, for the 9 months ended 30 September 2012, underscored NagaWorld's significant growth in its gaming and non-gaming business volume,  further demonstrating the critical need for expanded and enhanced facilities.

Tourism statistics from the Ministry of Tourism, Cambodia, revealed a grand total of 2.88 million international tourist arrivals in 2011. It was also reported that the country saw a 24% increase in tourist arrivals from January to September 2012, over the same period in 2011. The development of Naga2 will cater to this tourism growth. In fact, with its strategic location in the city and top notch offerings, Naga2 is pivotal to attracting more business and leisure travelers.

With its completion in 2015, Naga2, along with NagaWorld, will seamlessly combine business and leisure in a single destination, making it the finest business, leisure and entertainment integrated complex in Indochina.

ABOUT NAGACORP LTD

NagaCorp Ltd. was listed on The Hong Kong Stock Exchange in October 2006 (SEHK stock code: 3918).  Established in 1995, NagaCorp's wholly owned subsidiary NagaWorld Ltd. owns, manages and operates the only world class comprehensive hotel casino entertainment complex in Phnom Penh, the capital city of the Kingdom of Cambodia.  It owns a casino license valid for 70 years and exclusive gaming rights for a period of around 41 years (1995-2035). NagaCorp Ltd. was selected in the Hang Seng Foreign Companies Composite Index and the Hang Seng Global Composite Index launched on 5 September 2011.

For further information, please contact Hill+Knowlton Strategies Asia, or NagaCorp's Investor Relations Department

NagaCorp
Kevin Nyland
Vice President, Investor Relations (USA/Europe)
E-mail: kevinnyland@nagaworld.com

Gerard Chai
Director, Corporate Finance / Investor Relations (Asia Pacific)
E-mail: gerardchai@nagaworld.com

 
Hill+Knowlton Strategies Asia
Jingo Chan
Tel: +852 2894 6213
E-mail: jingo.chan@hkstrategies.com
 
Source: NagaCorp Ltd.
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