NagaCorp
NagaCorp is a Cambodia-focused hotel, casino, and leisure company best known for operating the NagaWorld integrated resort in Phnom Penh.
Last updated August 26, 2026
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Overview
NagaCorp Ltd. is a hotel, casino, and leisure company centered on Cambodia's regulated gaming and hospitality market. Its principal operating asset is NagaWorld, an integrated hotel-casino entertainment complex in Phnom Penh. NagaWorld is described as Cambodia's largest hotel and gambling resort and as the capital's only integrated hotel, casino, and entertainment complex. The property combines casino operations with hotel accommodation and leisure facilities, positioning the company as a destination-resort operator rather than simply a standalone gaming venue. The business began with the opening of the Naga casino on 1 May 1995. At that time, the casino operated from a boat moored on the Mekong River in Phnom Penh. This floating format was subsequently replaced by a land-based facility in 2003, marking a major transition in the brand's physical presence and operating model. The move enabled NagaCorp to develop a larger permanent resort platform in the Cambodian capital and laid the foundation for the later NagaWorld complex. NagaCorp's Cambodian operations are supported by a long-term casino licence. The licence is reported to run for 70 years until 2065. The company also holds a geographic monopoly within a 200-kilometre radius of Phnom Penh until 2045, subject to stated exceptions including the Cambodia-Vietnam border area, Bokor, the Kirirom Mountains, and Sihanoukville. These rights provide the company with a distinctive competitive position in the Phnom Penh market, although the exceptions leave room for other gaming and resort developments elsewhere in Cambodia. The company became publicly traded in 2006 through an initial public offering on the Hong Kong Stock Exchange. The listing made NagaCorp the first gambling-related company to trade on that exchange and the first company with operations in Cambodia to become publicly listed. Its Hong Kong listing gives the business access to international capital markets while maintaining its primary operating identity as a Cambodia-based resort and gaming group. NagaWorld also serves different customer segments within the gaming and hospitality market. In addition to mass-market casino and leisure activity, the complex has hosted VIP gaming facilities; SunCity Group, a junket operator, was reported to have operated a VIP Club on level 23 of the Naga2 hotel tower in Phnom Penh. This relationship illustrates the resort's role in the regional VIP-gaming ecosystem, although the cited reference does not provide current details about the arrangement. NagaCorp has also pursued international expansion beyond Cambodia. The company is developing a casino resort in Vladivostok, Russia, indicating an effort to apply its integrated-resort model in another gaming destination. The available reference material does not establish the project's completion date, operating status, investment value, or current commercial performance. Overall, NagaCorp's brand identity is built around a flagship Phnom Penh resort, exclusive Cambodian gaming rights in a defined area, hotel and entertainment integration, and a publicly listed corporate structure.
History
NagaCorp's operating history began in Phnom Penh on 1 May 1995, when the Naga casino opened on a boat moored in the Mekong River. The floating venue provided the company's original gaming platform and connected the casino directly with Phnom Penh's riverfront setting. The business later moved ashore in 2003, replacing the boat-based operation with a permanent land-based facility. This transition was an important structural change because it enabled the company to build a larger and more durable hospitality and entertainment complex. The land-based operation developed into NagaWorld, an integrated hotel, casino, and leisure destination in Phnom Penh. The complex became NagaCorp's principal brand and operating asset. It is identified as Cambodia's largest hotel and gambling resort and as Phnom Penh's only integrated hotel-casino entertainment complex. Its model combines casino gaming with hotels and entertainment, allowing the company to serve visitors seeking accommodation and leisure as well as gaming customers. The Naga2 hotel tower formed part of the resort's later expansion and included a VIP Club operated by the junket operator SunCity Group, according to the cited reference. NagaCorp's position in Cambodia has been supported by a long-term casino licence reported to last 70 years, until 2065. The company also has a monopoly over casino operations within a 200-kilometre radius of Phnom Penh until 2045, with specified exclusions covering the Cambodia-Vietnam border area, Bokor, the Kirirom Mountains, and Sihanoukville. These arrangements have given NagaWorld a protected position in the capital's casino market and have been central to the company's resort strategy. The available material does not provide the original licensing date or the detailed terms of later amendments. In 2006, NagaCorp entered public markets through an initial public offering on the Hong Kong Stock Exchange. The listing was notable in two respects: it made NagaCorp the first gambling-related company to trade on the exchange and the first company with operations in Cambodia to become publicly traded. The listing established the corporate group as an internationally accessible investment vehicle while its operating activity remained concentrated in Cambodia. The company has subsequently pursued expansion outside its home market. It is developing a casino resort in Vladivostok, Russia, suggesting an attempt to extend the NagaCorp integrated-resort model into a separate regional gaming destination. The supplied reference does not establish when the Vladivostok project began, whether it has opened, or its current financial and operational status. Accordingly, the project's development is best understood as an expansion initiative rather than a confirmed operating property. NagaCorp's history therefore follows a clear progression: a floating casino launched in Phnom Penh, a move to permanent land-based operations, development of a flagship integrated resort, protection through long-duration Cambodian gaming rights, a Hong Kong public listing, and planned international diversification. The available sources do not provide enough verified information to document specific leadership changes, financial results, marketing campaigns, or controversies.
- 2006
Hong Kong listing
[1]NagaCorp completes an initial public offering on the Hong Kong Stock Exchange under ticker 3918.
- 2003
Operations move to land
[1]The casino relocates from its floating Mekong River venue to a land-based facility in Phnom Penh.
- 1995
Floating casino opens in Phnom Penh
[1]The Naga casino begins operations on 1 May from a boat moored on the Mekong River in Phnom Penh.
Vladivostok resort development
[1]NagaCorp develops a casino resort project in Vladivostok, Russia.
Products and positioning
A Cambodia-centered integrated resort and gaming operator, positioned around NagaWorld's scale, Phnom Penh location, long-term casino licence, and protected geographic market rights.
Integrated hotel-casino resort
NagaWorld
NagaWorld is NagaCorp's flagship integrated resort in Phnom Penh. It combines hotel accommodation, casino gaming, and leisure entertainment in a single destination. The property is described as Cambodia's largest hotel and gambling resort and Phnom Penh's only integrated hotel-casino entertainment complex. Its facilities serve both general visitors and VIP gaming customers, supporting NagaCorp's positioning as a destination operator rather than a single-purpose casino business.
Casino gaming · 1995
Naga casino
The Naga casino is the original gaming operation from which NagaCorp developed. It opened in 1995 on a boat moored in Phnom Penh's Mekong River and moved to a land-based facility in 2003. The venue established the company's presence in Cambodia's casino sector and became the historical foundation for the later NagaWorld resort complex.
Hotel and resort tower
Naga2
Naga2 is a hotel tower within the NagaWorld resort complex in Phnom Penh. The reference identifies a VIP Club operated by SunCity Group on level 23 of the tower. It represents the expansion of NagaCorp's property beyond its original casino format into a multi-building hospitality and entertainment destination.
Casino resort development
Vladivostok casino resort project
NagaCorp is developing a casino resort in Vladivostok, Russia. The project reflects the company's effort to extend its integrated casino-and-hospitality model beyond Cambodia. The supplied reference does not confirm an opening date, final facilities, or whether the project is currently operating.
Brand decisions
2006
Initial public offering in Hong KongOtherBackground
NagaCorp had developed a Cambodia-based casino and hospitality business and sought access to public capital markets.
Action taken
The company completed an initial public offering on the Hong Kong Stock Exchange.
Aftermath
NagaCorp became the first gambling-related company to trade on the exchange and the first company with operations in Cambodia to become publicly listed.
2003
Move from floating casino to land-based resort platformGeneration changeBackground
The original Naga casino had operated from a boat moored on the Mekong River in Phnom Penh since 1995.
Action taken
Naga moved its casino operations to a permanent land-based facility in 2003.
Aftermath
The relocation created the physical basis for the later NagaWorld integrated hotel, casino, and entertainment complex.
- Expansion into VladivostokStrategy
Background
NagaCorp's core operating base is its Phnom Penh resort, and the company has pursued opportunities in other regional gaming destinations.
Action taken
The company began developing a casino resort in Vladivostok, Russia.
Aftermath
The supplied reference confirms the development project but does not establish its completion, opening, or commercial outcome.
Recent events
- 2006
NagaCorp completes Hong Kong stock-market IPO[1]
Other
NagaCorp carried out its initial public offering on the Hong Kong Stock Exchange, becoming the first gambling-related company to trade on the exchange and the first company operating in Cambodia to become publicly listed.
- 2003
Naga casino moves to a land-based facility[1]
Product generation
The casino moved from its floating Mekong River location to a permanent land-based facility, supporting the subsequent development of the Phnom Penh integrated resort.
- 1995
Naga casino opens on a boat in Phnom Penh[1]
Product launch
Naga's casino began operations on 1 May 1995 from a boat moored on the Mekong River in Phnom Penh, establishing the business that later developed into NagaWorld.
NagaCorp pursues a Vladivostok casino resort[1]
Product launch
The company is developing a casino resort in Vladivostok, Russia, representing an international expansion beyond its core Cambodian operation.
Sources1 sources
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