• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 1 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

NagaCorp to pay 100% of 2H20 profits to shareholders as 2020 results confirm rapid recovery from COVID-19 impact

Ben Blaschke by Ben Blaschke
Tue 9 Mar 2021 at 06:08
NagaCorp boss Dr Chen Lip Keong donates US$5 million to Cambodia’s COVID-19 vaccine fund
35
SHARES
873
VIEWS
Print Friendly, PDF & Email

NagaCorp has announced a special “Hardship Relief Dividend” that will see it pay out 100% of net profits generated for the second half of 2020 to “loyal” shareholders the company says “stayed on faithfully with us during the COVID-19 crisis.”

The dividend, worth a total of around US$81 million or 1.88 cents per share, comes as NagaCorp revealed Monday a net profit of US$102.3 million for the financial year ended 31 December 2020, driven by a strong recovery in the second half of the year at Cambodian integrated resort NagaWorld.

Thanks to a 99% sequential increase in EBITDA and 297% increase in net profit in 2H20 compared with the first six months, NagaCorp generated FY20 GGR, EBITDA and net profit of US$869.6 million, US$265.2 million and US$102.3 million respectively, it said.

“As a reward to the shareholders who believe in the long-term growth of the Group despite today’s difficult times and in order to alleviate any sufferings, if any, of these loyal shareholders who have stayed on faithfully with us during the COVID-19 crisis, the Board has recommended an unprecedented 100% dividend payout of net profits generated for the second half of 2020 as final dividend for the year,” NagaCorp said.

Although a recent outbreak of COVID-19 across Cambodia saw NagaWorld last week suspend operations after 11 staff tested positive, the IR had previously been outperforming regional peers through the latter stages of 2020 on the back of a strong mass market rebound.

NagaWorld also closed for three months through 2Q20, but after reopening on 8 July had seen mass market GGR recover to 95% of pre-COVID levels versus a more modest 69% recovery in VIP.

NagaCorp said Monday that 4Q20 saw a 23% improvement in average daily buy-ins on all its mass market tables combined to US$3.9 million compared with the September quarter.

“The satisfactory recovery of the gaming business volumes and revenues was largely contributed by a reasonably sized expatriate community and to some extent visitors from East Asia (mainly from China, South Korea and Taiwan) patronizing NagaWorld in search of entertainment,” the company said.

RelatedPosts

Genting Malaysia misses 4Q24 estimates, slashes dividends as rising costs hurt profitability

Genting Malaysia reports US$613 million in Q1 revenue, impacted by lower VIP at Resorts World Genting

Fri 30 May 2025 at 05:23
Macau GGR comes in at MOP$18.9 billion in April, up 1.7% year-on-year

Citi: Macau GGR jumped 16% week-on-week to US$85 million per day

Tue 27 May 2025 at 19:08
Macau welcomes record 993,117 visitors during seven-day Golden Week holiday

CLSA: Macau’s diversification push seeing more leisure tourists, lower spend per visitor

Mon 26 May 2025 at 05:50
Tim McNally to retire as NagaCorp chairman, Philip Lee named successor

Tim McNally to retire as NagaCorp chairman, Philip Lee named successor

Thu 22 May 2025 at 17:58
Load More
Tags: CambodiadividendEbitdagross gaming revenueMass marketNagaCorpNagaWorldPhnom PenhshareholdersVIP
Share14Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

10 Years Ago – Reimagining Sri Lanka

Sri Lanka gazettes draft bill to establish Gambling Regulatory Authority

by Newsdesk
Sat 31 May 2025 at 06:03

A draft bill that would establish an official regulator for the Sri Lankan gaming industry, to be known as the Gambling Regulatory Authority, has taken another step forward after being gazetted. According to the Sri Lanka Mirror, the official announcement...

RGB International signs agreement to distribute KL Saberi and Atlas gaming machines

After record-breaking sales in 2024, Malaysia’s RGB sees 1Q25 profit fall to

by Newsdesk
Sat 31 May 2025 at 05:53

Malaysian gaming product distributor RGB International Bhd has reported group-wide revenue of MYR73.6 million (US$17.3 million) for the three months to 31 March 2025, down 65% year-on-year due to a lower number of products sold. The figure was also 79%...

Robert Goldstein to step aside as LVS Chairman and CEO from March 2026, replaced by Patrick Dumont

Robert Goldstein: Macau gaming market challenged by increased competition, online gambling and US-Sino trade war

by Ben Blaschke
Fri 30 May 2025 at 06:42

Las Vegas Sands (LVS) Chairman and CEO Robert Goldstein has bemoaned the lingering impact of the US-China trade war, as well as increased domestic and regional competition and the rise of online gambling across Asia for sustained flatness in the...

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

by Ben Blaschke
Fri 30 May 2025 at 05:38

Industry figures taking part in the Thai Entertainment Complex Roundtable (TECR) next Thursday 5 June hope to find common ground with those who oppose Thailand’s Entertainment Complex Bill, citing the opportunity to use an evidence-based approach to achieve outcomes that...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語