Cambodian casino operator NagaCorp has concluded a deal to bring 300 new electronic gaming machines (EGM) to its flagship NagaWorld casino in Phnom Penh.

The deal, which was hinted at earlier this month, involves four independent third parties, who have already paid a combined $40m and will deposit a further $10m at a later date that will go toward purchasing the “brand new, latest state-of-the-art EGMs.”

The third parties include three Cambodian companies – Top Summit Garment Inc, Jin He Tai Construction Co Ltd and C.M.C. Phnom Penh Import Export Co. Ltd – plus an individual identified only as ‘Jinfu,’ who reportedly owns China Central Asia Group, a Guangdong-based electric light manufacturer.

The new EGMs will be jointly managed and operated by NagaCorp and the aforementioned four parties, but NagaCorp will reap 70% of the revenue. The contract is valid for 10 years and can be renewed on a mutual agreement basis.