NagaCorp Gaming Revenue Up 17 Percent

NagaCorp Ltd., the owner of NagaWorld Hotel and Casino in Phnom Penh, saw its yearly gross gaming revenue (GGR) increase by 17 percent compared to 2013 and its nongaming revenue rise by 14.4 percent, according to the company’s filing Wednesday on the Hong Kong stock exchange.

The filing says GGR jumped from $324.9 million in 2013 to $381.3 million last year. Its nongaming revenue, which includes income from hotel-room bookings and the sale of food and beverages, rose from $20 million to $22.9 million, it says.

The casino’s mass-market table buy-ins increased 16 percent to $465.5 million, while VIP rollings increased 35.2 percent to $6.2 billion.

The filing says a downturn in Macau’s gaming industry has given NagaCorp the opportunity “to further penetrate the Chinese gaming market” and that the increase in VIP rollings was a result of the company’s publicity efforts in China.

“The 35% increase in VIP rollings in 2014 demonstrates NagaWorld’s incentive program’s success in promoting NagaWorld to a wider range of operators and players, particularly from China,” it says.

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