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Tag Archives: NagaWorld

Russia – NagaCorp suspends development of its Vladivostok casino project

Cambodia-based casino group NagaCorp has announced the ‘indefinite suspension’ of its huge casino project in the Entertainment Zone of the Primorye Region near the port of Vladivostok in Russia’s Far East. The resort was being built in three phases, with the first phase which saw an investment of up to US$200m breaking ground five years…

Cambodia – NagaCorp. generates EBITDA of US$17.7m despite four month closure

Despite being closed for nearly four months, Cambodia casino group NagaCorp. still managed to generate Gross Gaming Revenue (GGR) of US$129.3m at its NagaWorld casino in the capital of Phnom Penh with Adjusted EBITDA of US$17.7m and VIP Market GGR of US$80.5m. Mass Market Tables generated GGR of US$29.9m for the six months ended 30…

Cambodia – Moody’s views NagaWorld as negative with revenues 40 per cent down

Despite a US$200m bonds offering, Cambodian integrated resort, NagaWorld, has been rated with a negative outlook with the ongoing closure of the facility seeing revenue only hitting 40 per cent of 2019 levels in 2021. Moody’s Vice President and Senior Credit Officer Jacintha Poh said: “The additional notes will provide the company with sufficient liquidity…

Cambodia – NagaCorp confirms job losses to maintain ‘operational and financial flexibility’

Despite NagaCorp seeing a full recovery of its mass gaming at its NagaWorld casino prior to the latest three month closure, the operator says it has been forced to make job cuts. NagaWorld has been closed since March 1 and despite revenues bouncing back to 99 per cent of its pre-pandemic levels last time it…

Cambodia – NagaWorld’s mass gaming revenues back to 99 per cent of pre-pandemic level

NagaCorp has said it has seen a full recovery of its mass gaming at its NagaWorld casino in the Cambodian capital of Phnom Penh with a return to 99 per cent of the revenues achieved before the pandemic. It said the NagaWorld ‘continued to record recovery of the gaming business volumes in the first quarter…

Cambodia – NagaWorld back up to 95 per cent of pre-pandemic mass revenue

Since the re-opening of the casino businesses on July 8 2020, NagaCorp recorded an initial recovery rate, compared to the pre-closure period of 1Q2020, of about 95 per cent for the Mass Market Segment and about 69 per cent for the VIP Market Segment. The satisfactory recovery of the gaming business volumes and revenues was…

Cambodia – NagaWorld closes in Cambodia following 11 cases of COVID-19

NagaCorp has said it has volunteered to ‘temporarily suspend its business for a more thorough review of its precautionary and preventive measures’ following 11 cases of COVID-19 being reported at its NagaWorld casino in Phnom Penh over the weekend. A spokesperson said: “On or around February 27 2021, the company offered about 3000 employees for…

Cambodia – NagaWorld already back to 91 per cent of pre-COVID revenue levels

Cambodia casino operator NagaCorp has confirmed its solid recovery following the reopening of NagaWorld in Phnom Penh, with their three combined segments of its gaming revenue streams back to 91 per cent of pre-COVID GGR at US$1.7m per day. The group said: “The COVID-19 virus has affected and significantly slowed down regional tourism. However, the…

Cambodia – NagaWorld’s GGR jumps 15 per cent despite COVID closures

Despite the disruption caused by the coronavirus pandemic, Cambodia’s NagaWorld has bounced back to form quickly saying its ‘revenues were relatively stable, despite the impact of the temporary closure of the casino operation.’ The Group delivered an increase of 15 per cent in GGR (in 1Q2020) and generated positive EBITDA and net profit during the…