NagaCorp enjoys strong end to 2019

NagaCorp enjoys strong end to 2019

Casino operator saw GGR rise 20 per cent in the final three months of the year to US$1.7billion.

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

EBITDA increased by 31 percent to US$671.7 million and net profit rose 33 percent to US$521.3 million driven by both VIP and mass market segments registering major gains during the period.

“The increase in FDI, strong domestic business activities and business travel helped drive visitation to NagaWorld, resulting in increased business volume,” the operator said in a statement.

“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,” it added.

On the Coronavirus impacting Asia and beyond, NagaCorp said it believes the event will be “short-lived”.

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