Tuesday, August 09, 2022

NagaCorp GGR up 20 percent in final quarter of 2019


NagaCorp has announced strong financial results across the board for the final three months of 2019, seeing GGR up 20 percent to US$1.7 billion.

Moreover, EBITDA increased by 31 percent to US$671.7 million, net profit up 33 percent to US$521.3 million, and both the VIP and mass market segments registering major gains.

The management statements were also upbeat: ”The increase in FDI, strong domestic business activities and business travel helped drive visitation to NagaWorld, resulting in increased business volume. Furthermore, the much-anticipated casino law is expected to be promulgated within 2020, further strengthening the regulatory environment which has been improving in recent years. The Group is confident that it will continue to enjoy the benefits of long-term win-win private public partnership initiative which further fuels the growth of tourism to Cambodia.”

NagaCorp also appeared sanguine about future growth, in spite of what it call “the Coronavirus pandemonium in China.”

“Regardless of the coronavirus outbreaks, the Company is of the opinion that this event will be short-lived,” they predicted.

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