Gross gaming revenue in the first quarter of 2024 was up 23.7 per cent in year-on-year terms.<\/p>\n\n\n\n\n\n\n\n
Cambodia.- Casino operator and developer\u00a0NagaCorp\u00a0has shared its results for the first quarter of the year. The company posted gross gaming revenue (GGR) of US$145m, up 23.7 per cent when compared to Q1 2023.\u00a0<\/p>\n\n\n\n
The company reported earnings before interest, tax, depreciation and amortisation (EBITDA) of US$80.3m, up\u00a033 per cent year-on-year.\u00a0GGR for Mass Market table games increased by 34 per cent. The key growth driver was premium mass high-limit table games, up 51 per cent in year-on-year terms. <\/p>\n\n\n\n
The Mass Market saw the highest average daily business volumes since the property reopened in the third quarter of 2021. Premium VIP GGR was up 24 per cent. As of March 31, 2024, the Group’s total cash and bank balances had increased to US$414.3m.\u00a0<\/p>\n\n\n\n
The company said: “The average daily rollings in the first quarter of 2024 have exceeded the average business volumes recorded in the financial year ended 31 December 2019.\u00a0<\/p>\n\n\n\n
“In addition to the recovery of international tourist arrivals, the continuing return of business-related travellers (with longer repeated stays and higher spending power) to Cambodia contributed to the growth of this segment.”<\/p>\n\n\n\n
For full-year 2023<\/a>, NagaCorp posted a GGR of US$514.8m<\/strong>, up 15.5 per cent year-on-year<\/a>. Unaudited preliminary EBITDA was US$295.3m, up 20.3 per cent year-on-year.<\/p>\n\n\n\n The company posted a net profit of US$177.7m<\/strong>, up by 65.7 per cent in year-on-year terms. Non-gaming revenue was US$18.45m, up 24.5 per cent when compared to the previous year. The average daily mass marker business volume grew by 7.2 per cent in year-on-year terms from US$9.3m to US$9.9m. The figure represented a recovery of 82.3 per cent compared to 2019, prior to the Covid-19 pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":" Gross gaming revenue in the first quarter of 2024 was up 23.7 per cent in year-on-year terms.<\/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 robust Q1 2024 financial results, with Gross Gaming Revenue (GGR) increasing 23.7% to US$145m and EBITDA up 33% year-on-year, primarily driven by strong performance in premium mass high-limit table games. The company's average daily rollings have surpassed pre-pandemic 2019 levels, attributed to the recovery of international tourism and business-related travel to Cambodia.","focusai_entities":"NagaCorp","focusai_location":"Cambodia","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"NagaCorp Q1 Growth Drivers?","query":"What specific operational or marketing initiatives, beyond general tourism recovery, contributed to NagaCorp's significant GGR growth in premium mass and VIP segments?"},{"label":"Capital Allocation Strategy?","query":"Given the increased cash and bank balances, what are NagaCorp's immediate and long-term capital allocation priorities, particularly regarding potential M&A or expansion projects?"}],"footnotes":""},"categories":[163,158,16333],"tags":[2336],"class_list":["post-777014456","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-slider-home","category-south-east-asia-news","tag-nagacorp"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014456","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=777014456"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014456\/revisions"}],"predecessor-version":[{"id":777014489,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014456\/revisions\/777014489"}],"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=777014456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777014456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777014456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}