Covid-19 pandemic NagaCorp 2020 revenue more than halves

NagaCorp has reported revenue of $878

NagaCorp has reported revenue of $878.7m for the twelvemonth ended 31 Dec 2020, against $1.8bn recorded inwards 2019. Gross gain was $427m, compared to $846.3m the previous year.

The VIP marketplace made upwardly 70% of 2020 revenue, with $613m, patch tabularize games brought in $174.3m and electronic gaming machines made upwards 9% of tally revenue with $82.3m.

Despite the obvious effect of the Covid-19 pandemic, NagaCorp remains optimistic well-nigh hereafter prospects, stating that the Cambodian Ministry of Tourism is provision to create a trip bubble with hopes of boosting tourism, partnering with countries that hold low-pitched Covid-19 transmission rates.

According to NagaCorp’s annual report, “ASEAN-plus-three (China, Nippon and South Korea) will be the primarily targeted countries and the cognitive operation will live conducted inward stages.”

Due to the pandemic, the casino was temporarily shut cut down and resumed operations inward July 2020, with outstanding retrieval recorded by the mass-market segment. Mass market place tables’ ordinary day-to-day buy-ins for Q4 2020 were $3.91m, a 23% increment from Q3.

The group’s VIP business volume recorded a satisfactory recovery, with day-after-day VIP rollings reaching 69% of pre-pandemic levels for the full stop 'tween 8 July and 31 December 2020.

However, despite the reported signs of recovery, NagaCorp has closed over again since 1 March, as some of the venue’s staff were tried confirming for Covid-19. Additionally, the Cambodian Government placed the Phnom Penh region, where the gambling casino is located, on lockdown until 28 April.

Another part inwards the country, Bavet town, was also placed under a two-week quarantine, with several venues forced into a temporary shutdown; locations include Bavet-Mok Bay International Entertainment, New World Casino, Good Luck Casino and the Emperor Company, reported Phnom Penh Post.

This news is generated to you by the 918Kiss Download Malaysia.