NagaCorp Ltd, the operator of NagaWorld, a casino resort monopoly in the Cambodian capital Phnom Penh, has announced that it recorded a 23.7 percent increase in gross gaming revenue (GGR) in the first quarter of this year compared to the same period last year, reaching over $145 million.

NagaCorp was hit hard by COVID, with the company still experiencing a gradual recovery, notes Chairman Timothy McNally. The group is working hard to restructure its finances to figure out the scope of Naga 3, which is likely to only open in 2029.

Despite 2023 falling slightly short of expectations, the Chairman of NagaCorp says that the company is in a gradual recovery after COVID. Both VIP and mass have returned and as the number of flights increases, so should foot fall.

NagaCorp has announced that it recorded a 15.5 percent increase in gross gaming revenue (GGR) in 2023, reaching over $515 million.

The Sakai Trust, a family trust established by the recently deceased founder of NagaCorp, Chen Lip Keong, continues to hold directly and indirectly about 69.26 percent of the gaming group, the company announced recently.

The Cambodian gaming tycoon and founder of NagaCorp, Chen Lip Keong, has passed away at the age of 75, as announced by the company.

Cambodia's gaming operator, NagaCorp, has announced that it holds an aggregate amount of $404 million in a bank account, which is deemed 'sufficient for the full repayment of the 2024 Notes, given the current rate and speed of cash generation of the group.'

Cambodia’s gaming operator NagaCorp will receive up to an $80 million loan at 8 percent annual interest from the Chen family-controlled trust to meet upcoming financial commitments associated with senior notes due next year.

The demise of the VIP junket sector likely means Cambodia casino operator NagaCorp's EBITDA will unlikely return to pre-covid 'anytime soon', as the company had a 'historical over-reliance on VIP GGR, according to the latest investment memo from Citigroup.

NagaCorp Ltd, operator of NagaWorld, a casino resort monopoly in the Cambodian capital Phnom Penh, has announced that it recorded a 57.4 percent increase in net profit in 1H23, topping $83 million.