{"id":18815,"date":"2021-06-09T15:12:39","date_gmt":"2021-06-09T15:12:39","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=18815"},"modified":"2026-04-23T18:43:27","modified_gmt":"2026-04-23T21:43:27","slug":"nagacorp-revenue-to-reach-40-of-pre-pandemic-levels-in-2021","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/nagacorp-revenue-to-reach-40-of-pre-pandemic-levels-in-2021","title":{"rendered":"NagaCorp revenue to reach 40% of pre-pandemic levels in 2021"},"content":{"rendered":"\n

Moody\u2019s Investor Service Inc has reported that a full recovery will not come until 2022 due to multiple closures in 2020 and 2021.<\/p>\n\n\n\n\n\n\n\n

Cambodia.-\u00a0Moody’s has reported that it expects\u00a0NagaCorp to recover by 2022\u00a0<\/strong>as long as the company resumes operations in the second half of 2021.<\/p>\n\n\n\n

It said NagaCorp’s revenue could reach 40 per cent of pre-pandemic levels<\/strong> if NagaWorld reopens in the next few months.\u00a0<\/p>\n\n\n\n

NagaCorp<\/a>\u00a0has announced plans to reduce pay and lay off employees\u00a0to improve cost efficiency<\/strong>, and has\u00a0listed\u00a0US$200m 7.95 per cent senior notes<\/a>,\u00a0<\/strong>which will not be convertible into shares.<\/p>\n\n\n\n

According to Moody\u2019s, the notes will provide\u00a0NagaCorp \u201csufficient liquidity\u201d to support its cash needs<\/strong>\u00a0\u201cover the next 18 to 24 months\u201d.\u00a0<\/p>\n\n\n\n

The group will\u00a0use the funds to strengthen the group\u2019s working capital<\/strong>\u00a0as well as for general corporate purposes.<\/p>\n\n\n\n

Analysts gave NagaCorp a\u00a0B1 outlook, which means an obligor can meet its financial commitments<\/strong> but that adverse business, financial, or economic conditions will likely impair the obligor’s capacity or willingness to meet its financial commitments.<\/p>\n\n\n\n

Moody’s could\u00a0downgrade NagaCorp’s ratings\u00a0<\/strong>if\u00a0<\/strong>the operating environment deteriorates, resulting in protracted weakness in operating cash flow or\u00a0if the company has insufficient cash\u00a0<\/strong>to cover cash burn and short-term debt obligations.<\/p>\n\n\n\n

NagaWorld<\/a>\u00a0remains closed and\u00a0it is unknown whether it will be able to open on June 16<\/strong>. The casino suspended operations in March\u00a0after 11 staff members tested positive for Covid-19<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Moody\u2019s Investor Service Inc has reported that a full recovery will not come until 2022 due to multiple closures in 2020 and 2021.<\/p>\n","protected":false},"author":176,"featured_media":17592,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Moody's Investor Service projects NagaCorp's recovery by 2022, contingent on NagaWorld's H2 2021 reopening, with revenues potentially reaching 40% of pre-pandemic levels. The company is implementing cost efficiencies, including layoffs, and has issued US$200m in senior notes to bolster liquidity for the next 18-24 months, despite a B1 outlook indicating potential impairment under adverse conditions.","focusai_entities":"Moody\u2019s Investor Service Inc, Moody\u2019s, NagaCorp, NagaWorld","focusai_location":"Cambodia","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.85), investor_analyst (1.0), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"NagaCorp Liquidity Impact?","query":"How will the US$200m senior notes issuance specifically impact NagaCorp's working capital structure and its capacity to meet short-term operational liabilities beyond the projected 18-24 month liquidity window?"},{"label":"Regulatory Reopening Conditions?","query":"What specific regulatory compliance or public health conditions must NagaWorld satisfy to secure a definitive reopening date, and what is the potential GGR impact of a delayed H2 2021 resumption?"}],"footnotes":""},"categories":[16336,163],"tags":[2336],"class_list":["post-18815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-finance-news","tag-nagacorp"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=18815"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18815\/revisions"}],"predecessor-version":[{"id":18849,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18815\/revisions\/18849"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17592"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=18815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=18815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=18815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}