PHNOM PENH (The Cambodia Herald) -- Cambodian casino operator, Hong Kong-listed NagaCorp, is trying to reach deals in order to fly gamblers from Macau and mainland China to its gaming resort in Phnom Penh, according to media reports.
The company’s chairman, Timothy McNally was quoted by website www.macaubusinessdaily.com as saying that the company already has one aircraft and is in the process of purchasing an additional three. Two of these are Airbus A320s.
He said
before flights commence, there are many processes that need to be completed. The company wants to establish cooperation with travel agencies both in Macau and mainland China. Gamblers will be encouraged to visit Cambodia, not just for gambling, but also to visit heritage sites such as Angkor Wat and other temples.
Hong Kong media quoted NagaCorp chief financial officer, Philip Lee Wai Tuck, as saying the company is also going to invest around US$45 million in airport facilities in Phnom Penh.
According to the reports, Mr Lee said an aircraft that is 10 or 15 years old can cost around US$10 million to purchase outright. Mr Tuck was also quoted saying that the company has the capital needed and needs no financing through share placement.
Currently, the company is working on getting approvals with the respective authorities in both Macau and Cambodia.
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