{"id":27054,"date":"2022-02-08T07:08:35","date_gmt":"2022-02-08T10:08:35","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=27054"},"modified":"2026-04-23T11:32:39","modified_gmt":"2026-04-23T14:32:39","slug":"nagacorp-posts-ggr-of-us223-5m-for-fy21","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/nagacorp-posts-ggr-of-us223-5m-for-fy21","title":{"rendered":"NagaCorp posts GGR of US$223.5m for FY21"},"content":{"rendered":"\n

NagaCorp’a financial results for the financial year 2021 reflect the impact of the temporary suspension of operations due to the Covid-19 pandemic in Cambodia.<\/p>\n\n\n\n\n\n\n\n

Cambodia.- Casino operator and developer\u00a0NagaCorp<\/strong>\u00a0has shared its operating results for the financial year ended 31 December 2021, reporting\u00a0gross gaming revenue (GGR) of US$223.5m<\/strong>. The company reported earnings before interest, tax, depreciation and amortization (EBITDA) of US$15.6m and Adjusted EBITDA of US$22.4m.\u00a0<\/p>\n\n\n\n

Mass-market table games reached a GGR of US$66.5m\u00a0<\/strong>and mass-market electronic gaming machines US$44m. The premium mass-market GGR was US$48.7m, while the recommended VIP market GGR was US$64.4m.<\/p>\n\n\n\n

In the fourth quarter of 2021 (after business resumption), the company’s business volume in the premium mass, EGM and mass table segments recorded an average quarter-on-quarter growth of 28.7 per cent, 47.5 per cent and 27.5 per cent, respectively.<\/p>\n\n\n\n

Although the\u00a0period of closure<\/a> due to the Covid-19 pandemic was longer in 2021 compared to 2020, the company’s business volume recovered faster after the second reopening.<\/p>\n\n\n\n

The company said it continues to focus on executing its existing development projects<\/strong>\u00a0and said it is committed to developing and completing the Naga 3 project to promote and enhance Cambodia’s tourism industry.\u00a0<\/p>\n\n\n\n

According to the casino operator, “the NagaWorld complex is expected to make the group one of the largest riverside integrated resorts <\/strong>and entertainment centres in the Asia-Pacific region.”<\/p>\n\n\n\n

Global economic conditions are expected to continue to recover as vaccination programmes and booster shots are rolled out.\u00a0Domestic economic activity, including retail and wholesale, transportation and domestic tourism, is expected to grow steadily as Cambodia’s economy reopens<\/strong>, while international tourism, hotels and restaurants are likely to recover more slowly.<\/p>\n\n\n\n

NagaCorp stated: “The company expects to continue its current growth recovery in a Covid-19 endemic world, and believes that the long-term business prospects and outlook of the group will remain stable.\u201d<\/p>\n\n\n\n

NagaWorld denies targeting union members during layoffs<\/h2>\n\n\n\n

NagaWorld <\/strong>has denied allegations that it specifically targeted union employees<\/strong> when it laid off staff last year. The layoffs led to a month-long strike by casino workers and the arrest of senior union leaders and members.<\/p>\n\n\n\n

In a statement posted by Fresh News and shared by VOD, the company has defended its decision to lay off workers due to economic difficulties caused by the Covid-19 pandemic. The casino operator laid off more than 1,300 workers<\/a>, most of whom received compensation packages. Nearly 400 workers rejected the packages and more than 200 demanded reinstatements.<\/p>\n\n\n\n

NagaWorld denied picking union members<\/strong> and claimed union membership only dropped from 47 per cent to 42 per cent after the layoffs. However, according to the International Trade Union Confederation, 1,100 of the 1,329 laid-off workers are union members.<\/p>\n","protected":false},"excerpt":{"rendered":"

NagaCorp’a financial results for the financial year 2021 reflect the impact of the temporary suspension of operations due to the Covid-19 pandemic in Cambodia.<\/p>\n","protected":false},"author":176,"featured_media":25662,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"NagaCorp reported FY2021 GGR of US$223.5m, reflecting the operational impact of COVID-19 closures in Cambodia, yet demonstrating strong Q4 recovery across key gaming verticals. The company remains committed to its Naga 3 development project, aiming to solidify its position as a leading integrated resort in the Asia-Pacific region. Concurrently, NagaCorp faces scrutiny over allegations of anti-union practices during recent layoffs, which led to significant labor unrest.","focusai_entities":"NagaCorp, NagaWorld, Fresh News, VOD, International Trade Union Confederation","focusai_location":"Cambodia, Asia-Pacific","focusai_target_profile":"ceo_executive (0.95), regulator (0.85), compliance_legal (0.9), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Naga 3 Project Funding","query":"What is the updated capital expenditure timeline and funding strategy for the Naga 3 project, particularly in light of the reported FY2021 financial performance and ongoing labor disputes?"},{"label":"Labor Dispute Resolution","query":"What specific measures is NagaCorp implementing to resolve the ongoing labor dispute and mitigate the associated operational and reputational risks, ensuring adherence to international labor standards?"}],"footnotes":""},"categories":[157,158,16333],"tags":[2336],"class_list":["post-27054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-slider-home","category-south-east-asia-news","tag-nagacorp"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27054","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=27054"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27054\/revisions"}],"predecessor-version":[{"id":27061,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27054\/revisions\/27061"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25662"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=27054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=27054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=27054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}