Good Morning. Cambodian delight. NagaCorp‘s chairman, Philip Lee Wai Tuck, attributed the company’s improved performance to growth in mass market and premium tables, alongside a tourism rebound in Cambodia, which is projected to attract up to 7.5 million visitors by 2025. Meanwhile, in India, the sweeping ban on online gambling seems to have inadvertently driven punters to unregulated offshore platforms. In the Philippines, gaming operator DigiPlus Interactive Corp. has launched a surety bond program covering up to $17,300 per player.
What you need to know
- The chairman of NagaCorp credited the company’s improved performance to growth in the mass market, premium tables, and a rebound in tourism in Cambodia.
- India’s sweeping ban on online gambling has inadvertently driven punters to unregulated offshore platforms.
- DigiPlus introduces first-ever surety bond for eligible players, offering up to $17,300 per player in partnership with Philippine First Insurance.
On the radar
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- MGM Resorts International appoints Ayesha Molino as the new COO.
- Teen gambling addiction surges in South Korea.
- Continent 8’s CEO, Michael Tobin, named a Trusted 10 tech visionary.
AGB Intelligence
CAMBODIA
NagaCorp Chairman credits mass market growth for impressive interim results
The chairman of NagaCorp, Philip Lee Wai Tuck, credited the company’s improved performance to growth in the mass market, premium tables, and a rebound in tourism in Cambodia. NagaCorp, which operates the NagaWorld integrated resort in Phnom Penh, reported a net profit of $148.8 million for the first half of the year, with EBITDA reaching $200.3 million. The growth was driven by a 24% year-on-year revenue increase from mass market tables, which have nearly returned to pre-pandemic levels, as well as a significant rise in the premium VIP market.
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