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.
In a voluntary announcement to the Hong Kong Stock Exchange on Wednesday, the company disclosed its preliminary unaudited consolidated management, noting that its EBITDA in 1Q24 reached $80.3 million, 33 percent higher compared to 1Q2023.
The group notes that the average daily business volume in the mass segment has recovered to 86.6 percent of pre-COVID levels, while the premium VIP segment has already exceeded pre-COVID levels.
The mass segment continued its growth trajectory, mainly contributed by mass table games, which recorded GGR growth of 34 percent in 1Q24 compared to 1Q23. Premium mass high limit table games remain the ‘key growth driver,’ with GGR increasing by 51 percent in 1Q24 compared to 1Q23.
The premium VIP’s GGR in NagaWorld continued to register positive growth, recording an increase of 24 percent in the quarter. ‘It’s worth noting that the average daily rollings in 1Q24 have exceeded the average business volumes recorded in the financial year ended 31 December 2019.’
