NagaCorp Revenues Rise By 26 Percent Year on Year

NagaCorp Ltd., the owner of NagaWorld Hotel and Casino in Phnom Penh, increased its revenue for the January to June period by 26 percent compared to the same period last year, according to a filing on the Hong Kong stock exchange.

The filing, posted on Wednesday, states that overall revenue increased from $151.6 million for the first six months of 2013 to $191 million this year.

It states that NagaCorp’s gross gaming revenue increased by about 27 percent, from $141.8 million to $180.3 million, while its hotel and entertainment operations increased about 7 percent from $9.8 million to $10.6 million.

Within the gaming revenue, the casino’s public floor table buy-ins and VIP rollings saw increases.

Its public floor table buy-ins increased by about 22 percent from $192.2 million to $235.1 million, and VIP rollings increased by about 20 percent from $2 billion to $2.4 billion, according to the filing.

Total VIP gaming revenue increased by 61 percent to $86 million.

“Despite the negative news and the slowdown of Gross Gaming Revenue growth in Macau, NagaWorld… continues to generate positive operational and financial results,” the filing states.

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