NagaCorp, Cambodia largest casino operator is moving into the aviation market to first fly gamblers from China into its casinos.
PHNOM PENH – Nagacorp, Cambodia’s largest group of casinos in the Kingdom with locations in Phnom Penh, is targeting high-end spenders from China and Russia. The company just announced that it will launch its own fleet of jet aircraft to carry its customers. In parallel, the group is building a US$ 15 million VIP terminal at Phnom Penh International Airport to accommodate privately its passengers.
The new terminal “will be located at a different location from the existing passenger terminal”, and “would house its own immigration facility, VIP lounge, food and beverage outlets and other services”, the company indicated already last March in an official communication on the Hong Kong Stock Exchange, where NagaCorp is listed. It is planned to be completed by early next year. Naga hopes that the VIP service will help doubling the number of Chinese VIP coming to its casinos.
Last Friday, NagaCorp announced again in Hong Kong that it recently purchases Airbus A320 for flying VIPs to China. According to the statement, NagaCorp will work with major outbound Chinese travel agents, giving a first indication that flights would essentially be charter services, carrying only for Naga gamblers. China is Cambodia’s second largest market after Vietnam–attracting particularly gamblers. During the first five months of 2014, Chinese travellers numbers were up by almost 19%, reaching a total of 241,000 arrivals compared to 202,000 during the same period of 2013. China could become Cambodia’s largest source of tourism by 2016.
The group already applied for an AOC (airline operational certificate) to the Cambodian State Secretariat of Civil Aviation. It would however takes a few months to get the licence but there is no doubt that Naga will have it due to its long-ranging connections with Cambodia’s politics.
NagaCorp announced last week a 61% rise in VIP gaming revenue for the first half of the year, earning US$86 million between January and June, compared to US$53.3 million during the same period in 2013. Overall, NagaCorp recorded revenues of US$ 180 million, up by 27% during the first six months of 2014. Are considered VIP the gamblers who spend at least a minimum of US$ 20,000. According to a report from EBS International, NagaCorp would like to double the spending by VIP players, from US$ 3.8 billion in 2013 to $8 billion by 2017.
Luc Citrinot a French national is a freelance journalist and consultant in tourism and air transport with over 20 years experience. Based in Paris and Bangkok, he works for various travel and air transport trade publications in Europe and Asia.
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