NagaCorp reported an average of $2.9 million in daily purchases for the nine-month period ended September 30, 2021, a 16% reduction compared to $3.5 million in 2020.
NagaWorld reopened on September 15, 2021, after Cambodia’s Ministry of Health consulted the company about improved security measures. The casino has been closed for approximately six months out of the nine that make up the reporting period.
NagaWorld’s GGR was down 37% from $655.00 to $415,000, while the EGM’s average daily GGR was $294,000, an 8% decline from the previous year’s $320,000.
The average daily GGR for the period ended September 30, 2021 dropped only 8% to $285,000, compared to $309,000 for the same period in 2020.
Despite the drop, NagaCorp remains optimistic about the current scenario
NagaCorpo’s VIP sector was the hardest hit, with the average daily GGR falling 62% from US$2.1 million to US$814,000. Despite the short window of operations in 2021, the company remained positive on the financial results, saying that relative success depended more on the community living in the city of Phnom Penh.
“Although the half of the month of business opening in September 2021 was not comprehensive enough to form a more concrete opinion on the company’s performance, the resumption of the business mix, daily average and number of players are consistent with sustainability and the strength of the business seen during the short opening period for the third quarter of 2021”.
“Our strategy for the future is also to react to the opportunities offered by the tourism business generated by foreign visitors when visitation numbers increase,” stated the company’s formal statement. The Cambodian government is expected to allow the entry of vaccinated tourists in the fourth quarter of this year.
