Daily Asia Gaming eBrief: Vladivostok impairment drags NagaCorp to $1M loss in 1H24

Wednesday 28th of August 2024

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What you need to know

NagaCorp sees increase in mass revenue, as footfall normalizes, but Vladivostok project impairment drags group to $1M loss in 1H24.
SJM's 1H24 loss reduced by 87% to $20.8M, with substantial revenue and EBITDA growth, and market share rising to 12.5%.

On the radar

Royal Turf Club of Thailand reveals plans for $5.8B IR project.
POGO employee permits to be extended until year-end: report.
Macau retailer DFS lays off 80 due to rapid market changes.
Ainsworth results down in 1H24 as APAC, LatAm and Europe sales drop.
AMLC sees reduced money laundering following POGO ban.
PH President: investigation of Alice Guo's flight "almost finished".

AGB Intelligence

CAMBODIA

NagaCorp falls to loss on Vladivostok impairment, despite mass uptick

NagaCorp's first half-year results were weighed down by a significant impairment from its indefinitely stalled Vladivostok project, pulling the group to a $1 million loss from what would have been an $88 million profit in 1H24. The results were bolstered by strong mass performance at NagaWorld, with the return of visitation, including Chinese punters. VIP meanwhile failed to rise to the occasion. The group remains confident, however, that the tourism sector will maintain its recovery.

Corporate Spotlight

1xBet: The most popular gambling games and slots in Asia

For global betting company 1xBet, Asia is a key market for several reasons. This is why 1xBet pays special attention to the Asian market and actively promotes its sports betting platform and the most popular gambling games on the continent.