NagaCorp has shared its financial and operating results for the six months ended June 30.
Cambodia.- Casino operator and developer NagaCorp has shared its operating results for the first half of the year. It posted gross gaming revenue of US$52.7m, up 83.6 per cent when compared to H1 in 2021.
The company reported earnings before interest, tax, depreciation and amortization (EBITDA) of US$130.1m and a net profit of US$52.7m compared with a US$77.2m loss for the first half of 2021. NagaCorp’s total revenue was US$243m, up 86.3 per cent from US$130.4m.
GGR from the VIP market declined 72.1 per cent to US$17.2m while mass-market table GGR was up 245.8 per cent to US$103.3m. Premium mass-market table GGR reached US$61.3m during the first half of the year.
Electronic table game operations revenue was up 193 per cent to US$55.5m. Hotel room income, including sales of food and beverages was US$5.6m. The group’s cash and deposits have increased from US$125.1m as of December 31 to US$212.9m as of June 30.
The company said: “The widespread effects of Covid-19 have brought unprecedented challenges and uncertainties to the global market. However, the extensive vaccination coverage against Covid-19 has enabled Cambodia to reopen borders for all socio-economic activities and tourism, leading to positive economic prospects in 2022 and 2023.”
NagaCorp has confirmed it continues to focus on the execution of its existing development projects. The development of Naga 3 is in progress. It is expected that the combined complex of NagaWorld (Naga 1, Naga 2 and Naga 3) will have approximately 5,000 hotel rooms, 1,300 gaming tables and 4,500 EGM and many other non-gaming attractions.