NagaCorp inks new slots deal, seeks new Chinese name, makes nice with Buddhists

Cambodian casino operator NagaCorp has renewed its slot machine lease deal with gaming device supplier Entertainment Gaming Asia (EGA).

In a stock exchange filing on Friday, the Nasdaq-listed, Lawrence Ho-controlled EGA announced it had commenced a new 670-machine leasing deal with NagaCorp’s flagship property NagaWorld in Phnom Penh. The new deal, which took effect March 1, replaces the pact that expired on Feb. 29.

The previous deal allowed EGA a 25% share of each machine’s net win. The new deal will see NagaCorp pay EGA a fixed rate of $22 per machine seat per day until May 31. As of June 1 the rate will drop to $20 per day until Aug. 31, after which it will drop again to $18 per day.

The deal has no fixed expiry date but NagaWold can terminate it at any time with one month’s notice. EGA also has the right of termination if NagaWorld fails to honor the terms of the deal.