• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Monday 22 September 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
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
No Result
View All Result
IAG
No Result
View All Result

NagaCorp falls to US$147 million loss in 2021

Newsdesk by Newsdesk
Tue 8 Feb 2022 at 05:13
Union Gaming revises NagaCorp 2020 estimates upwards, says well-placed to swallow impact of new Cambodia gaming law

NagaWorld in Phnom Penh

26
SHARES
652
VIEWS
Print Friendly, PDF & Email

NagaCorp, operator of NagaWorld in Phnom Penh, Cambodia, fell to a US$147 million loss in 2021, impacted by the lengthy closure of its integrated resort which limited casino operations to less than six months of the year.

The loss, down from a profit of US$102.3 million in 2020, followed a 74.3% decline in gross gaming revenue for the period. The group did, however, record positive Adjusted EBITDA of US$22.4 million for the year.

In publishing its FY21 results overnight, NagaCorp said it has continued to see reasonable traffic in the mass market segment – and particularly premium mass – due primarily to a “reasonably sized expatriate community and to some extent, visitors from East Asia (mainly from China, South Korea and Taiwan) patronising NagaWorld in search of entertainment.”

As a result, premium mass GGR declined by only 38.2% year-on-year to US$48.7 million compared with a 74.3% decline in Referral VIP to US$64.4 million. Mass table GGR fell 61.9% to US$66.5 million and EGM revenue by 46.6% to US$44.0 million.

NagaCorp also noted improving results through 4Q21 and into January 2022 following the reopening of casino operations on 15 September. NagaWorld was closed from 2 March 2021.

“Despite a significant drop in the Referral VIP business due to the travel restrictions in the region, our Net Gaming Revenue was not adversely impacted as a result of the stable demand from the Premium Mass and Mass Market segments,” the company said.

Preparatory works on NagaCorp’s US$3.5 billion Naga3 development are ongoing, with main building work due to begin in early 2023 following completion of the foundation, basements and ground floor.

RelatedPosts

IEC issues profit warning on widened losses through December 2021

Upgrade work at Manila’s New Coast hotel and casino has International Entertainment Corp expecting US$32.5 million loss in FY25

Mon 22 Sep 2025 at 05:48
Industry lawyer: All hope not lost for Thailand’s deflated casino bill

Industry lawyer: All hope not lost for Thailand’s deflated casino bill

Thu 18 Sep 2025 at 20:04
10 Years Ago – Reimagining Sri Lanka

Sri Lankan cabinet approves budget proposal to increase betting levy, double casino entry for locals

Thu 18 Sep 2025 at 02:27
Tinian senator puts forward bill to offer online gaming licenses

Chinese nationals launch legal action over alleged fraudulent use of investment funds assigned for Tinian casino projects

Wed 17 Sep 2025 at 05:34
Load More
Tags: Cambodiacasinocovid-19gross gaming revenueNagaCorpNagaWorldPhnom PenhPremium Mass
Share10Share2
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Evolution Asia
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
NWR

Related Posts

SBC Summit Lisbon organizers say 30,000 attendees booked 72,000 hotel room nights at 2025 event

SBC Summit Lisbon organizers say 30,000 attendees booked 72,000 hotel room nights at 2025 event

by Newsdesk
Mon 22 Sep 2025 at 06:25

This year’s SBC Summit attracted more than 30,000 attendees who booked a combined 72,000 room nights in Lisbon – making it the show’s biggest edition ever according to event organizers. The preliminary figures were unveiled at a press conference late...

IEC issues profit warning on widened losses through December 2021

Upgrade work at Manila’s New Coast hotel and casino has International Entertainment Corp expecting US$32.5 million loss in FY25

by Newsdesk
Mon 22 Sep 2025 at 05:48

Hong Kong-listed International Entertainment Corporation (IEC) said Friday it expects to report a widened loss of at least HK$260 million (US$32.5 million) for the financial year ended 30 June 2025, primarily due to increased costs since taking control of casino...

Delays in game approvals see Ainsworth revise revenue target down

Novomatic and Kjerulf Ainsworth both increase holdings as battle for control of Ainsworth Game Technology continues

by Ben Blaschke
Mon 22 Sep 2025 at 05:17

Austrian gaming giant Novomatic and its founder Johann Graf have increased their stake in Australian slot machine supplier Ainsworth Game Technology (AGT) to almost 60%. However, the Ainsworth family – which has publicly disputed Novomatic’s takeover efforts – have taken...

Renowned gaming lawyer Jamie Nettleton to represent IMGL on Judging Panel for inaugural RTG Global Awards

Regulating the Game to launch Industry Spotlight Sessions at 2026 Sydney conference

by Newsdesk
Mon 22 Sep 2025 at 04:56

Leading international gambling law and regulation conference Regulating the Game (RTG) has announced the launch of new “Industry Spotlight Sessions” as part of its 2026 program. The 2026 RTG conference will take place from 9 to 11 March 2026 at...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

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

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
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English