NagaCorp revealed its financial results for the first half of the year and showed profits despite pandemic lockdown.<\/p>\n\n\n\n\n\n\n\n
Hong Kong.- Casino operator NagaCorp \u00a0has reported\u00a0net profit of\u00a0US$20.6\u00a0million for the first six months of the year,\u00a0down\u00a091.6\u00a0per cent compared to the same period last year.<\/p>\n\n\n\n
According to information revealed by the company to the Hong Kong Exchange, revenues fell by 57.7 per cent year-on-year to US$377.5 million.<\/p>\n\n\n\n
The firm declared a dividend of US$0.029 a share \u2013 representing a payout ratio of 60 per cent, based on the net profit generated for the period. It will be paid on September 23.<\/p>\n\n\n\n
NagaCorp, which operates Naga World casino resort in Cambodia, said about the results: \u201cThey were relatively stable, save for the impact from the temporary closure”.<\/p>\n\n\n\n
Casino operations were halted during the second quarter of the year due to the Covid-19 pandemic.<\/p>\n\n\n\n
After a three-month closure beginning on April 1, NagaCorp was allowed to reopen its VIP gambling tables and slot machines on July 8. <\/p>\n\n\n\n
On July 19 it was allowed to reopen\u00a0its mass-market gaming tables.<\/p>\n\n\n\n
The company stated that the average daily volumes for all of its gaming segments were now above 90 per cent of the average seen before the closure of the casino. <\/p>\n\n\n\n
It also said the daily volume of VIP rolling chip turnover was US$104.0 million.<\/p>\n","protected":false},"excerpt":{"rendered":"
NagaCorp revealed its financial results for the first half of the year and showed profits despite pandemic lockdown.<\/p>\n","protected":false},"author":2,"featured_media":9446,"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 significant decline in H1 net profit (91.6% to US$20.6M) and revenue (57.7% to US$377.5M) year-on-year, primarily due to COVID-19 related casino closures in Cambodia. Despite this, the company declared a US$0.029 per share dividend, representing a 60% payout ratio. Post-reopening, daily gaming volumes for both VIP and mass-market segments have recovered to over 90% of pre-closure levels, with VIP rolling chip turnover at US$104.0 million daily.","focusai_entities":"NagaCorp, Hong Kong Exchange","focusai_location":"Hong Kong, Cambodia","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"NagaCorp H1 Recovery","query":"What specific operational strategies did NagaCorp implement to achieve over 90% of pre-closure daily gaming volumes for both VIP and mass-market segments post-reopening?"},{"label":"Dividend Sustainability","query":"Given the 91.6% decline in H1 net profit, what is the long-term sustainability outlook for NagaCorp's 60% dividend payout ratio, and how does this align with capital allocation strategies for future growth?"}],"footnotes":""},"categories":[160,163,16333],"tags":[30,1619],"class_list":["post-9442","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-finance-news","category-south-east-asia-news","tag-cambodia","tag-hong-kong"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9442","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=9442"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9442\/revisions"}],"predecessor-version":[{"id":9456,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9442\/revisions\/9456"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/9446"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=9442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=9442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=9442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}