The Cambodian gaming tycoon and founder of NagaCorp, Chen Lip Keong, has passed away at the age of 75, as announced by the company.

Hong Kong-listed NagaCorp has announced that Chen Cherchi, one of the sons of the group's late founder Chen Lip Keong, will stop serving as Chief Executive Officer - Finance and Treasury, and in any other executive position in the group, effective from May 16th.

The Sakai Trust, a family trust established by the recently deceased founder of NagaCorp, Chen Lip Keong, continues to hold directly and indirectly about 69.26 percent of the gaming group, the company announced recently.

Chen Lip Keong, owner of NagaCorp and Karambunai, and Genting Group boss Lim Kok Thay are amongst the top10 richest billionaires in Malaysia, according to the annual list of ‘Malaysia’s 50 Richest’ 2023 edition from Forbes.

Hong Kong-listed NagaCorp said its founder ​​Dr. Chen Lip Keong has simplified the shareholding structure of his stake in the group for succession planning purposes.

Cambodia’s NagaCorp recently announced a management shakeup, involving the creation of three new CEO positions, each of which has been awarded to a son of founder and senior CEO Dr. Chen Lip Keong.

Cambodia’s Nagacorp announced major changes to its regulatory structure as it begins to look towards management beyond founder Dr Chen Lip Keong. In this week’s Face-to-Face, Nagacorp Chairman Tim McNally tells us about the reasons behind the new structure and how executive responsibility will be shared.

Genting Berhad Chairman Lim Kok Thay slipped out of the top ten list of Malaysia's wealthiest tycoons as the pandemic took its toll on the casino business, while Nagacorp head Chen Lip Keong also took a dip in the rankings, compiled by Forbes.

Cambodia is planning to launch an e-arrival Card starting from January 1st, to facilitate entrance to the country.

Imperial Pacific International’s parent company could face a possible delisting from the Hong Kong Stock Exchange, as the Saipan operator continues to face challenges on multiple fronts. According to IGamiX Managing Partner Ben Lee the possible revocation of its casino license by the Commonwealth Casino Commission due to unpaid casino license fees just adds to the multiple challenges faced by the company.