Q1 GGR increases 15 per cent to US$369 million driven by the VIP sector. <\/p>\n\n\n\n\n\n\n\n
Hong Kong.- Gaming operator NagaCorp<\/strong><\/em> has released a statement to the Hong Kong Stock Exchange reporting \u201crelatively stable\u201d financial results in the first quarter of 2020 despite the Covid-19 outbreak.<\/p>\n\n\n\n The operator reported a 15 percent year-on-year increase in GGR to US$369million, mainly driven by the VIP sector.<\/p>\n\n\n\n NagaCorp said the positive numbers were mainly due to it being able to operate without restrictions in the first quarter of the year. <\/p>\n\n\n\n “The results of 2020Q1 are mainly contributed by VIP business. The gross gaming revenue for VIP business increased by 25% and rollings increased by 18%, generated mainly from players coming from North Asia and some from South East Asia. The increase in revenue and rollings is contributed partly by junket operators who have fixed based operations in Naga 2 and who brought in VIP players (mainly from China) especially during the times when casinos are closed in Macau, Philippines and Malaysia at various points of time.\u201d<\/p>\n\n\n\n The company added: \u201cbefore March 30, 2020, Cambodia was the only country where its border was relatively porous to Chinese\u2019s visitation without much restrictions; NagaWorld was the only casino in the Asia Pacific region where there was relative ease of entry to the casino without much administrative difficulty and yet having all the protective measures against the Covid-19 in place both at the level of Cambodia and at the level of the company.\u201d<\/p>\n\n\n\n However, since April 1 the Cambodian government has ordered a suspension of all casinos until further notice. <\/p>\n\n\n\n \u201cIf the Cambodian government is able to contain the spread of Covid-19, the company is expected to continue its trajectory of growth in the short term especially now the Covid-19 spread is quite well contained in China. Nonetheless, the company believes the long term prospects and outlook shall remain stable,\u201d the statement concluded.<\/p>\n","protected":false},"excerpt":{"rendered":" Q1 GGR increases 15 per cent to US$369 million driven by the VIP sector.<\/p>\n","protected":false},"author":2,"featured_media":5194,"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 a 15% year-on-year increase in Q1 2020 GGR to US$369 million, primarily driven by its VIP sector, despite the initial impact of Covid-19. This performance was attributed to Cambodia's relatively open borders and NagaWorld's operational status while other regional casinos faced closures. However, the Cambodian government ordered a suspension of all casinos from April 1, impacting short-term prospects.","focusai_entities":"NagaCorp, Hong Kong Stock Exchange, junket operators","focusai_location":"Hong Kong, Cambodia, Macau, Philippines, Malaysia, China, North Asia, South East Asia, Asia Pacific","focusai_target_profile":"ceo_executive (0.9), regulator (0.75), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"NagaCorp Cash Burn?","query":"What is NagaCorp's projected cash burn rate during the casino suspension period in Cambodia, and what liquidity measures are in place?"},{"label":"VIP Strategy Post-Pandemic?","query":"How will NagaCorp's VIP segment strategy adapt to potential long-term shifts in regional travel patterns and junket operator dynamics post-pandemic?"}],"footnotes":""},"categories":[160,28,161,16338,167],"tags":[1619,2336],"class_list":["post-5191","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-casino-news","category-daily-news","category-east-asia-news","category-news-region","tag-hong-kong","tag-nagacorp"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5191","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=5191"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5191\/revisions"}],"predecessor-version":[{"id":777021424,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5191\/revisions\/777021424"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/5194"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=5191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=5191"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=5191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}