Cambodia's NagaCorp 'open' to sale of stalled Russia casino

Chairman weighs all options as Vladivostok impairment charge tips group into red

20240813 NagaWorld1

NagaWorld in Phnom Penh. The NagaCorp casino group is saddled with a Vladivostok project that was put on ice due to the Ukraine war. (Photo by Masayori Ishikawa)

KENJI KAWASE, Nikkei Asia chief business news correspondent

HONG KONG -- Cambodian casino operator NagaCorp says it is willing to listen to any solutions for its stalled gaming resort project in the Russian city of Vladivostok, including a sale.

"We're open to proposals for acquisition, purchase of the property," Chairman Timothy McNally told reporters in Hong Kong on Wednesday, when asked about the unfinished resort in the Russian Far East. Work has been stopped since March 2022 due to the invasion of Ukraine. "We're entertaining all of those options," he added.

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