Cambodian Monopoly Ponders Subconcessions

30 June 2008

Nagacorp, a casino operator with a monopoly in Cambodia's capital city of Phnom Penh, says it would consider subleasing an operating license to foreign companies seeking to develop properties in the city.

Nagacorp has exclusive rights to operate casinos within a 200 kilometer radius of the capital. The privilege lasts until 2035, and there are no restrictions on selling secondary licenses.

"NagaCorp may consider any subconcession proposal when the timing is right," chief executive Chen Lip Keong told Bloomberg News.

NagaCorp is Cambodia's only publicly traded company.