the same period last year<\/strong><\/em><\/a>. <\/p>\n\n\n\nNet gaming revenue at the NagaWorld Complex <\/strong>has seen an even bigger year-on-year jump. The overall complex as recorded a net gaming revenue of about \u20ac564.5 million during the first nine months of the year.<\/p>\n\n\n\nPast, Present and Future<\/strong><\/h4>\n\n\n\nThe original NagaWorld opened in 2006 and is now seen as Naga 1<\/strong>. That property now links to Naga 2<\/strong>, an expansion that opened in November 2017. <\/p>\n\n\n\nAnother expansion project is anticipated, Naga 3, which was recently approved by shareholders. The project, three times larger than Naga 1 and Naga 2 combined, has a budget of \u20ac3.2 billion<\/strong> and could be ready by 2025. It is expected to be a mix of gaming and non-gaming, with two 66-storey hotels, two 45-storey hotels, one 48-storey condominium hotel, one three-level basement and an 11-level multi-entertainment podium. <\/p>\n\n\n\nIn addition to the upcoming Naga 3, the firm also plans to refurbish 500 hotel rooms, out of the 750 available at Naga 1. \u201cIt is anticipated that the Naga 1 upgrade project shall be completed with savings\u201d<\/em> based on the project\u2019s original budget and to \u201ccontribute positively to the quality, standard and comfort of Naga 1 and hence business of the group\u201d<\/em> said the firm.<\/p>\n\n\n\nNaga\u2019s Plans moving Forward<\/strong><\/h4>\n\n\n\nNagaWorld has continued to grow over the years and,\nwith that growth, the property has been able to attract more business. The\ncompany identified political stability in Cambodia, an improving operating\nenvironment, business growth at Naga 2, tourism and the expansion of its VIP\ngaming business among the reasons for its results for the first nine months of\n2019.<\/p>\n\n\n\n
\u201cThe financial results for the nine months ended September 30, 2019 show that the group continues its journey of growth,\u201d<\/em> said NagaCorp in its Wednesday filing. <\/p>\n\n\n\nThe firm has an exclusive license to operate casinos\nin Phnom Penh and its surroundings. That type of control, coupled with a recent\nban on online gambling, is going to continue to drive the company\u2019s revenue\nupwards.<\/p>\n","protected":false},"excerpt":{"rendered":"
The massive casino complex of NagaWorld, is enjoying a solid performance during the first nine months of the year.<\/p>\n","protected":false},"author":133,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"NagaCorp's NagaWorld complex in Phnom Penh, Cambodia, reported robust financial performance for the first nine months of the year, with GGR increasing by 20.2% to \u20ac1.2 billion and NGR reaching \u20ac564.5 million. The company is proceeding with the \u20ac3.2 billion Naga 3 expansion, slated for completion by 2025, and plans significant refurbishments to Naga 1, leveraging its exclusive license and Cambodia's online gambling ban for sustained growth.","focusai_entities":"NagaCorp, NagaWorld, Naga 1, Naga 2, Naga 3","focusai_location":"Cambodia, Phnom Penh","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Naga 3 ROI Projections?","query":"Given the \u20ac3.2 billion capital expenditure for Naga 3, what are NagaCorp's projected return on investment and anticipated payback period, particularly considering the integrated gaming and non-gaming components?"},{"label":"Online Gambling Ban Impact?","query":"How has the Cambodian online gambling ban specifically influenced NagaCorp's VIP gaming segment growth and its competitive positioning against other regional integrated resort operators?"}],"footnotes":""},"categories":[160,28,163,16333],"tags":[30,29],"class_list":["post-6","post","type-post","status-publish","format-standard","hentry","category-asia-pacific","category-casino-news","category-finance-news","category-south-east-asia-news","tag-cambodia","tag-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6","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\/133"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=6"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6\/revisions"}],"predecessor-version":[{"id":21546,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6\/revisions\/21546"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=6"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=6"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=6"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}