NagaCorp has revealed that it is in “the advanced stages of planning” for the development of Naga3 at its Cambodian integrated resort NagaWorld.
The news, coming less than a year after the company opened Naga2, formed part of an unaudited update of its operational highlights for the first nine months of 2018, including a 115% uptick in gross gaming revenue in 3Q18 to US$357 million – led by a 153% increase in VIP turnover to US$8.2 billion.
For the nine months to 30 September, NagaWorld saw its revenue grow 94% to US$1.07 billion, with VIP volume up 128% to US$25.03 billion and mass table buy-in rising 57% to US$887.6 million. EGM bills-in grew 22% to US$1.60 billion.
Discussing the results, NagaCorp said that the stable political environment in Cambodia following the recent national elections and the positive response from clients to the opening of Naga2 had given it the confidence to accelerate its Naga3 plans.
“In view of the success and fast ramp-up of Naga2 and often times facing capacity constraints for both gaming and non-gaming areas, increasing inbound tourism especially from China and the stable political environment, the group is in advanced stages of planning for the development of Naga3,” the company said.
“Based on feedback from stakeholders (players, visitors, operators, investors), the group is confident that additional capacity is necessary to further fuel business growth (both gaming and non-gaming) to position the group as one of the most successful integrated resorts in Asia.”