Chen Lip Keong: Cambodian Casino Billionaire

Chen Lip Keong, who trained as a healthcare medical doctor prior to turning to home development and gaming, becomes a billionaire for the first time around the stellar performance of NagaCorp, the Hong Kong listed organization that owns and operates NagaWorld, Cambodia’s largest casino.

Considering that Chen debuted on our list of Malaysia’s Richest in 2009 with a net worth of $195 million, the share cost of NagaCorp has gone up by greater than 500%, generating it one of that exchange’s most effective performers for the period.

Chen founded NagaCorp in 1995, the same year he obtained 70-year gaming license in Cambodia as well as a shorter monopoly on casinos inside a 200 kilometer radius of Phnom Penh (the monopoly expires in 2035). He listed the enterprise in Hong Kong in 2006 immediately after Singapore rejected the listing plus the stock cost has been climbing ever because (he nevertheless controls greater than half of it). Amongst this year and last, the share cost doubled, partly on news that NagaCorp is expanding. In November the company broke ground on Naga2, which they say is going to be performed in 2015. When it truly is, it can incorporate new hotels, restaurants, entertainment and buying.

Chen also controls Karambunai, a Malaysia-listed home developer and tourism enterprise. Just before NagaCorp, he headed an aerospace enterprise owned by the Malaysian government.

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