Rationale of Naga 3

The existing NagaWorld complex of Naga 1 and Naga 2 is reaching full capacity, with above 80% room occupancy prior to the effects of COVID-19 pandemic. NagaCorp Ltd. (“the “Company” and together with its subsidiaries, the “Group”) has decided to develop Naga 3 (costing US$3.5 billion), which will be situated a stone's throw away from the current premises. With the expected completion in 2029, Naga 3 will increase the capacity of the Group by at least two times. It is currently expected that the combined NagaWorld complex of Naga 1, Naga 2 and Naga 3 will have about 5,000 hotel rooms, 1,300 gaming tables and 4,500 electronic gaming machines and many other non-gaming attractions, and is expected to be one of the largest integrated entertainment complexes in the world. The Company believes that the launch of Naga 3 is not only timely, but also the answer to meet future demand and a surer way to continue the Group’s journey of earnings growth, especially after the recent successful ramping up of Naga 2.

Update on Naga 3 Project

The foundation and structural works for the basement floors of the Naga 3 Project have been broadly completed.