Asian casino investor NagaCorp Ltd says it expects to invest between US$3.8 billion and US$4 billion in another extension to NagaWorld casino resort in Cambodia’s capital, Phnom Penh. Naga 3, to be developed in a combined land area of 16,837 square metres (181,232 sq. feet), will expand the company’s gaming and non-gaming offerings, said the promoter in a Wednesday filing. Naga 3 will be located opposite to The Peak Shangri-La Development (with CapitaLand Mall).
Hong Kong-listed NagaCorp has an exclusive licence to operate casinos in Phnom Penh and its surroundings. It started Naga 1 in December 2006. That property now links to Naga 2, an expansion that in late 2017. Both Naga 1 and Naga 2 are linked undergroup via the duty free shops.
Naga 3 will be adding a total 4,720 hotel rooms to the NagaWorld Complex, divided by four hotel towers and one 55-storey condotel, as well as a 12-level multi-entertainment podium. Naga 3 will be located adjacent to and connected to the existing property via the NagaCity Walk shopping, it added.
In addition to NagaWorld managed hotels, NagaCorp said it expects to engage one or more well-known international hotel brands to manage some of the hotels in Naga 3.