NagaWorld reaches $15M tax settlement with gov’t

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VietStock FI English 2 week(s) ago

NagaWorld reaches $15M tax settlement with gov’t

NagaWorld, Phnom Penh’s landmark casino resort complex, paid more than $15 million last week to settle its tax liabilities on non-gaming business operations following a government audit of its parent company’s 2015 financial statements, a Ministry of Economy and Finance (MEF) official said yesterday.

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Vietnam casino status quo good for NagaWorld

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VietStock FI English 2 week(s) ago

Vietnam's Ministry of Finance announced yesterday that its nationals would remain banned from entering the country’s casinos despite a draft decree submitted last month to the government that was expected to amend the existing law and end the ban, Vietnamese media reported.

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Ho Tram casino operator’s specialised airport given the go-ahead

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Báo Đầu Tư English 3 week(s) ago

Ho Tram casino operator’s specialised airport given the go-ahead

The Ba Ria-Vung Tau People’s Committee has agreed in principle to the construction of Ho Tram Project Company Limited’s proposed specialised airport project, with Loc An commune selected for the location.

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Junket investor’s profit falls but sticking to its Cambodia bets

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VietStock FI English 3 week(s) ago

Jimei International Entertainment Group, a Hong Kong-listed casino junket investor that promotes at least seven gaming tables in NagaWorld casino in Phnom Penh, reported a steep decline in profit during the first half of 2016 despite increased turnover.

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NagaCorp looking to shore up extra $120M

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VietStock FI English 3 week(s) ago

Casino operator NagaCorp Ltd aims to raise at least $120 million in net proceeds through a placing and subscription agreement that will see 190,000,000 shares sold to no less than six parties in a bid to increase capital for its Naga 2 development in Phnom Penh, the company announced in a filing to the Hong Kong Stock Exchange yesterday.

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Big C Vietnam pays off $93 million tax arrears

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Báo Đầu Tư English 1 month(s) ago

Big C Vietnam pays off $93 million tax arrears

Big C Vietnam, representing its new owner Central Group, has paid off the whole VND2.034 trillion ($93 million) it declared in tax earlier.

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Phnom Penh's NagaWorld casino targeted in audit

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VietStock FI English 1 month(s) ago

Phnom Penh's NagaWorld casino targeted in audit

The government is conducting an audit of NagaWorld in Phnom Penh to assess its tax liabilities on non-gaming operations after finding “discrepancies” last year that prompted the first-ever government probe of the landmark casino and entertainment complex’s finances.

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NagaCity Walk gives capital a taste of duty-free shopping

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VietStock FI English 1 month(s) ago

The NagaCity Walk, a $94 million subterranean shopping centre in Phnom Penh aimed at high-rolling tourists visiting the adjacent NagaWorld casino and hotel complex, held its soft opening yesterday, with duty-free luxury goods ranging from affordable tobacco, perfumes and designer watches to a $3,400 bottle of cognac.

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Bassaka Air sticks to its routes

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VietStock FI English 1 month(s) ago

Bassaka Air has said it plans to continue serving the Cambodian domestic market, bucking analyst predictions that the airline would abandon this increasingly competitive air space once it secured a licence to operate in the more lucrative Chinese market.

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Gaming firm to push into mobile apps

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VietStock FI English 1 month(s) ago

Pan-Asian gaming company Entertainment Gaming Asia Inc (EGA) will actively pursue new business ventures, including developing an online social casino platform, to help offset short-term revenue losses, the company said in a filing yesterday.

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Duterte's war on online gambling prompts gaming tycoon's exit

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Báo Thanh Niên English 1 month(s) ago

Duterte's war on online gambling prompts gaming tycoon's exit

Former PhilWeb Corp. Chairman Roberto Ongpin, who’s been singled out by Philippine President Rodrigo Duterte in a campaign to end the influence of big businesses on the government, said he will sell his stake to protect the electronic gambling company and its workers.

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NagaCorp profits up as casino packs in punters

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VietStock FI English 1 month(s) ago

Nagacorp Ltd, the operator of NagaWorld casino in Phnom Penh, saw its net profit climb 24 per cent during the first half of 2016 on “an increase in business volume across all segments of the gaming business,” the Hong Kong-listed company said in a filing yesterday.

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Ba Ria-Vung Tau’s beaches discovered

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Báo Đầu Tư English 1 month(s) ago

Ba Ria-Vung Tau’s beaches discovered

Ba Ria-Vung Tau is becoming a hit with tourists, due to its 300-kilometre coastline of sandy shores and resort destinations.

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Big C bends to heavy-handed authorities

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Báo Đầu Tư English 1 month(s) ago

Big C bends to heavy-handed authorities

Big C Vietnam, representing its new owner Central Group, committed to finishing the payment of its outstanding tax debt (VND1.534 trillion or $70 million) by the end of this month.

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Thailand's Central declares $89.6 mln tax on Big C Vietnam deal: report

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Báo Thanh Niên English 2 month(s) ago

Thai retail giant Central Group has declared around VND2 trillion (US$89.6 million) in tax on its acquisition of Vietnam's biggest foreign-owned supermarket chain Big C, local media reported.

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