[ET Net News Agency, 3 December 2020] Daiwa Research lifted its target price for
NagaCorp (03918) to HK$12.5 from HK$12 and maintained its "buy" rating.
The research house thinks Cambodia's Law on Management of Integrated Resorts and
Commercial Gambling (LMCG) cements Naga's status as one of the fastest-growing, regulated
gaming operators post-COVID-19.
Daiwa also sees the new gaming law as necessary for Cambodia to build investor
confidence in the country's legal system and narrow the gap on international AML
(anti-money laundering) standards. As a result, this creates an environment for
sustainable increases in FDI and business visitation, the future growth drivers of Naga's
mass-market GGR. (KL)