{"id":777003991,"date":"2023-04-04T13:07:27","date_gmt":"2023-04-04T16:07:27","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777003991"},"modified":"2026-04-22T23:09:09","modified_gmt":"2026-04-23T02:09:09","slug":"nagacorp-ggr-up-6-8-in-q1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/nagacorp-ggr-up-6-8-in-q1","title":{"rendered":"NagaCorp GGR up 6.8% in Q1"},"content":{"rendered":"\n

NagaCorp’s gross gaming revenue reached US$117m due to “generally lower” win rates.<\/p>\n\n\n\n\n\n\n\n

Cambodia.- The casino operator and developer NagaCorp <\/strong>has reported its first quarter 2023 financial results. It reported GGR of US$117m<\/strong>, up 6.8 per cent. Premium VIP rolling chip rose 43.9 per cent to US$976m.<\/p>\n\n\n\n

According to NagaCorp’s report, GGR was up because the win rates in the first quarter were “generally lower compared to last year due to luck factor.” However, the company’s mass gaming revenue fell by 3.9 per cent to US$76.62m.<\/p>\n\n\n\n

The company noted a 117.9 per cent annual rise in the referral VIP market<\/strong>, with a 22.6 per cent quarterly increase to US$387.1m. It said it had successfully converted previous referral VIP players into direct premium VIP players, recording its highest levels since the first quarter of 2020. <\/p>\n\n\n\n

The group observed a continuing increase of visitors to its property, with an estimated daily visitation of about 7,000 towards the end of March 2023, up from 6,000 at the year-end of 2022.<\/p>\n\n\n\n

EBITDA for the quarter fell by 3.3 per cent annually to US$59.02m. The company believes that the recovery of Chinese tourism to Cambodia is still in its early stages, following the China’s granting of Approved Destination Status in February. <\/p>\n\n\n\n

See also:<\/strong> Moody\u2019s puts NagaCorp\u2019s ratings under review for downgrade<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

NagaCorp’s gross gaming revenue reached US$117m due to “generally lower” win rates.<\/p>\n","protected":false},"author":176,"featured_media":18779,"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 6.8% GGR increase to US$117m in Q1 2023, primarily driven by higher Premium VIP rolling chip volume and lower win rates, despite a 3.9% decline in mass gaming revenue. The company observed increased visitation and successful conversion of referral VIPs to direct premium players, anticipating further recovery from Chinese tourism.","focusai_entities":"NagaCorp, Moody's","focusai_location":"Cambodia, China","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"VIP Conversion Strategy","query":"What specific operational or marketing initiatives did NagaCorp implement to successfully convert previous referral VIP players into direct premium VIP players, and what is the projected long-term impact on NGR and player lifetime value?"},{"label":"Mass Market Decline","query":"Given the decline in mass gaming revenue despite increased visitation, what are NagaCorp's strategic adjustments to re-engage the mass market segment, and how does this align with the anticipated recovery of Chinese tourism?"}],"footnotes":""},"categories":[163,16333],"tags":[2336],"class_list":["post-777003991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-nagacorp"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003991","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=777003991"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003991\/revisions"}],"predecessor-version":[{"id":777004017,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003991\/revisions\/777004017"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18779"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777003991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777003991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777003991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}