NagaCorp Ltd will continue building its third casino, Naga 3, within the NagaWorld complex in Phnom Penh, Cambodia, while suspending operations in Russia following the war with Ukraine.
The Cambodian hotel and casino complex operator announced last week that it had halted construction of the Naga Vladivostok gaming and resort development complex in Russia, which was expected to cost more than RM1 billion, due to “uncertainties” about the project.
Tan Sri Dr. Chen Lip Keong, a Malaysian billionaire, who founded NagaCorp 27 years ago, agreed in 2013 to invest a minimum of US$350 million in the Naga Vladivostok complex, which would be built on land with dual frontage and commanding views of the sea and an inland lake flanked by two hills.
