To Recover to Pre-Pandemic Level NagaWorld Firmly on Track

Last year the coronavirus outbreak caused material impact and to complete the material impact recovery, Gaming in the Asian-Pacific region is on track. Ninety-nine percent of the pre-pandemic levels recovered by the daily volume according to NagaCorp’s unaudited first-quarter report of 2021, and as of February 20, the quarter ended prematurely with the average daily rates compared by the operators.

Return to Pre-Pandemic Levels Indicated by Daily Volumes

The operator of Cambodia’s largest integrated resort, NagaWorld, declared that for an electronic gaming machine that generates $5.44 million, the average daily volume’s recovery rate is 98.5 percent. For table buy-ins, 99.4 percent accounted for $3.74 million.

In the first quarter of 2020, the only segment falling behind was the VIP business which is 53.1 percent from pre-pandemic daily levels. In 2020, it generated $106.52 million in the first three months, whereas it generates only $56.6 million in later months.

Until March 31, 2021, the first three months, the gross gaming revenue generated was $127.34 million and $72.6 as net gaming revenue. $202.11 million generated in mass-market business in mass table buy-ins. In mass table GGR, the operator retained $29.72 million, and from EGM, another $17.1 million included and generated the revenue of $297.65 million. VIP rolling in VIP GGR accounted for $90.51 million, and in revenue, it’s $2.91 billion.

From January 1 to February 20 at the first

the NagaCorp noted a quarter of the 2021 voluntary announcement only due to the board’s incorporated decision in Cayman Island company to suspend operations voluntarily. Cambodian Ministry of Health reported some coronavirus disease cases at the NagaWorld premises.

Financial Highlights of 2020

In March, after the integrated resort’s suspended operation, NagaWorld property’s second closure in last year, and until July, it remained shut. Despite being inoperative, for nearly three months of 2020, managed the net profit of the year by the NagaCorp to achieve for the year 2020, December 31.

In March, the result of the year released by the listed operator of Hong-Kong. EBITDA is $265.2 million, and GGR is $869.6 million released by the Hong-Kong listed operators.