{"id":777012776,"date":"2024-01-31T08:41:19","date_gmt":"2024-01-31T11:41:19","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777012776"},"modified":"2026-04-22T13:29:42","modified_gmt":"2026-04-22T16:29:42","slug":"nagaworld-ggr-to-grow-26-in-2024-analysts-say","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/nagaworld-ggr-to-grow-26-in-2024-analysts-say","title":{"rendered":"NagaWorld GGR to grow 26% in 2024, analysts say"},"content":{"rendered":"\n

Analysts cite an improved mix of business travellers with higher spending power.<\/p>\n\n\n\n\n\n\n\n

Cambodia.- Casino operator and developer\u00a0NagaCorp<\/strong>\u00a0is expected to see a 26-per cent year-on-year increase in gross gaming revenue (GGR) in 2024, according to a report by China International Capital Corporation (CICC) Hong Kong Securities. The upswing is based on potential overseas demand, particularly from Chinese tourists.<\/p>\n\n\n\n

Analysts\u00a0Goh Shengyong<\/strong>,\u00a0Wang Jiayu<\/strong>, and\u00a0Hou Liwei<\/strong>\u00a0note that the figure will represent less than half of the overall GGR recorded in 2019, before the Covid-19 pandemic. According to CICC, NagaWorld’s mass GGR will recover to 92 per cent of its 2019 level, driven by continued Chinese tourism and an improved mix of business travellers with higher spending power.<\/p>\n\n\n\n

Analysts also suggest a potential recovery in VIP GGR to 37 per cent of 2019 levels, mainly supported by a revival in the regional junket industry and increased spending power within the Association of Southeast Asian Nations (ASEAN) region.\u00a0<\/p>\n\n\n\n

See also:<\/strong> Southeast Asia tourism rebound to continue in 2024, analysts say<\/a><\/p>\n\n\n\n

The brokerage highlights a correlation between foreign direct investment from China into Cambodia and GGR levels at NagaWorld.\u00a0In 2022,\u00a0Nagacorp\u2019s GGR<\/a>\u00a0grew 99.5 per cent on year-on-year terms to US$445.9m. Earnings before interest, tax, depreciation and amortization (EBITDA) reached US$245.4m and net profit US$107.3m.<\/p>\n\n\n\n

For the first half of 2023<\/a>, the casino operator posted a GGR of US$252.3m, up 57.4 per cent when compared to H1 in 2022. Net Profit was up 57.4 per cent to US$83m in year-on-year terms while EBITDA was US$143.2m, 10.1 per cent higher than in the prior-year period.<\/p>\n","protected":false},"excerpt":{"rendered":"

Analysts cite an improved mix of business travellers with higher spending power.<\/p>\n","protected":false},"author":176,"featured_media":18729,"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 is projected to achieve a 26% year-on-year GGR increase in 2024, driven by a resurgence in Chinese tourism, an improved business traveller mix, and a regional junket industry revival. While mass GGR is expected to recover significantly, VIP GGR will remain below pre-pandemic levels, according to CICC Hong Kong Securities. This recovery is also correlated with foreign direct investment from China into Cambodia.","focusai_entities":"NagaCorp, China International Capital Corporation (CICC) Hong Kong Securities, Goh Shengyong, Wang Jiayu, Hou Liwei, NagaWorld, Association of Southeast Asian Nations (ASEAN)","focusai_location":"Cambodia, Hong Kong, China, Southeast Asia","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact of China FDI?","query":"How significantly does the correlation between China's foreign direct investment into Cambodia and NagaWorld's GGR influence long-term growth projections and market stability for NagaCorp?"},{"label":"VIP Segment Strategy?","query":"What specific strategies is NagaCorp implementing to accelerate the VIP GGR recovery beyond the projected 37% of 2019 levels, particularly given the evolving regional junket landscape and regulatory scrutiny?"}],"footnotes":""},"categories":[163,16333],"tags":[21297],"class_list":["post-777012776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-nagaworld"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012776","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=777012776"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012776\/revisions"}],"predecessor-version":[{"id":777012801,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012776\/revisions\/777012801"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18729"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777012776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777012776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777012776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}