There appears to be no slowing the phenomenal growth of Phnom Penh’s monopoly integrated resort NagaWorld, with gross gaming revenue soaring by 20% and net gaming revenue by 29% during the first nine months of the year.
The strong results, with GGR reaching US$1.29 billion and net gaming revenue US$616.2 million, came on the back of substantially higher volumes in both the VIP and mass market segments, NagaCorp said in an update on its Cambodian operations.
Mass table buy-ins grew 38% year-on-year through 30 September 2019 to US$1.22 billion, with the average daily yield of mass tables at Naga2 increasing from US$5,744 per table to US$7,681. EGM bill-ins increased 28% to US$2.05 billion.
VIP rolling chip saw a 35% increase in volume to US$33.87 billion with NagaCorp crediting an influx of business visitation, tourists and increased footfall, particularly to Naga 2 where there has been strong demand for higher table limits. It also pointed to the arrival of two “reputable Macau-based junket operators” who have set up fixed-based operations and commenced bringing VIP players to NagaWorld.
“VIP customers remain well diversified coming from South East Asia and North Asia, with increasing headcounts and check-ins originating from Chinese business visitation,” the company said.
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