NagaCorp reports good recovery in mass market

The company said it had good results during the August-September period.
The company said it had good results during the August-September period.

The company has revealed that it recovered 97 per cent of its mass-market gaming segment volumes in the August-September.

Hong Kong.- Casino operator and developer NagaCorp has revealed that it saw a “relatively good recovery and sustenance” of average daily gaming volumes in the two months ending September 30.

The company runs the NagaWorld casino complex in Cambodia’s capital, Phnom Penh. It has an exclusive licence to operate casinos in Phnom Penh and its surroundings.

Despite undergoing a long closure starting in April due to Covid-19 measures, the company has seen good results since being allowed to reopen its VIP gambing tables and slot machines on July 8, and mass market gaming tables on July 19.

According to the company’s filing, the average daily business volumes for its mass-market gaming segment in August-September recovered to 97 per cent of the average seen in the first quarter of 2020 before the closure of the casino in April.

The operator said the daily average of mass-market table buy-ins stood at US$3.50 million for the August-September period, compared to US$3.76 million in the opening quarter of 2020. Average daily volume from electronic gaming machines (EGMs) was back to regular levels, at US$5.54 million, it added.

VIP rolling chip turnover daily volume was nearly US$76.10 million in the two months to September 30, versus US$106.5 million in the first quarter.

NagaCorp said: “After reopening of casino operations in July 2020, the premium-mass segment has been the key mass-market revenue growth driver”.

The company said the recovery in VIP business volume has been “largely driven by a sizable number of expatriates currently living and conducting business in Cambodia.”

It added: “The group has observed repeating VIP customers and new clientele pool within both the junket hall as well as direct VIP player gaming hall.”

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