Despite improving its financial outlook, Cambodian gaming operator NagaCorp is not expected to return to pre-COVID levels of gaming operations, rating agency S&P Global Ratings indicates in a recent dispatch.
According to the agency, the leading gaming operator in Cambodia has notably improved its liquidity position thanks to a significant reduction in refinancing risk following a repayment of outstanding senior unsecured notes in July of this year.
NagaCorp also managed its cash flows prudently since 2022, prioritizing debt repayment and limiting cash dividends and capital expenditures (capex).
