NagaCorp’s Casino enjoys 23.7% jump in GGR in Q1 2024

NagaCorp’s Casino enjoys 23.7% jump in GGR in Q1 2024

Embarking on a journey of unparalleled success, Cambodia-based leisure & gaming giant NagaCorp Limited has proudly announced remarkable results for the first-quarter of 2024. As disclosed in a non-mandatory quarterly filing with the Hong Kong Stock Exchange (HKSE), the company’s GGR surged nearly 24% and profits surpassed US$145 million in Q1 this year.

Unveiling astounding figures in its Q1 report, NagaCorp revealed that its GGR jumped 23.7 per cent year-over-year, while profits soared to an impressive US$145.4 million.

Evidently, the momentum of prosperity continues to propel NagaCorp forward, as indicated by a strong 32.6 per cent escalation in profit before interest, tax, depreciation & amortization (EBITDA), reaching a commendable US$80.3 million for the quarter culminating on 31st of March. Anchored by its long-lasting monopoly license to operate the prestigious NagaWorld casino in the vivacious capital of Phnom Penh, NagaCorp stands as a beacon of excellence in the dominion of entertainment and gaming.

When we delve deeper into the statistics, we find that the company's operational prowess shines brightly, with various metrics like daily business volume and GGR painting a portrait of echoing success. The mass-market segment, fueled by a remarkable 34 per cent growth in table games GGR, spearheaded the charge, while premium mass high-limit table games witnessed an overwhelming 51 per cent surge from the previous year.

Commenting on Q1 results, NagaCorp. Said, “The mass-market segment continued its growth trajectory, which was mainly contributed by … table games which recorded GGR growth of 34 percent in first-quarter 2024, compared to the prior-year period. Premium mass high limit table games remain … the key growth driver.”

Remarkably, the average daily business turnover in the mass-market segment reached its pinnacle since the property's official reopening in Q3 2021, marking a monumental achievement in the face of pandemic-related challenges. Similarly, the premium VIP segment experienced a prominent uptick, with daily rolling volumes increasing 19.3 per cent, underscoring the company’s unwavering resilience and enduring appeal.

In a realm defined by volatility and uncertainty, NagaCorp emerges as a beacon of fidelity and prosperity, facing challenges with unwavering resolve and coming out stronger than ever before. With every achievement, the company reaffirms its commitment to excellence, setting new benchmarks for success in the ever-evolving world of leisure and gaming. Moving forward, the company is poised to uphold its tradition of triumph and innovation, consistently illuminating the path ahead.

Technology Update: