Timothy Patrick McNally to retire as NagaCorp chairman
McNally will retire on June 30.
Cambodia.- Timothy Patrick McNally has notified the NagaCorp board of his intention to retire as a non-executive director, chairman of the board and chairman and member of the Anti-money Laundering (AML) Oversight Committee on June 30. McNally said he wants to spend more time with his family and focus on personal interests.
Philip Lee Wai Tuck, NagaCorp’s current executive director and executive deputy chairman, will replace McNally as chairman of the board and the AML Oversight committee from July 1.
The company said: “McNally has confirmed that he has no disagreement with the board, and there is no matter relating to his retirement that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited or the shareholders of the company.
“The board thanks Mr McNally for his dedication and the significant contributions he has made to the company during his tenure of office, and congratulates Mr Lee on his new role.”
For the first quarter of the year, NagaCorp posted gross gaming revenue (GGR) of US$171m, up 17.7 per cent year-on-year. Net gaming revenue was US$148.2m, an increase of 20.6 per cent.
Table buy-ins and slots bills-in for Mass Market Tables increased by 4.8 per cent to US$997m. GGR for this segment grew by 17.9 per cent from US$92.4m to US$109m.
Premium VIP Market rollings rose 72.6 per cent to US$2.01bn. Premium VIP GGR stood at US$42.86m, up 20.6 per cent. The VIP referral segment experienced an increase, with GGR rising by 11 per cent to US$19.28m.
