• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 30 May 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
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
No Result
View All Result
IAG
No Result
View All Result

NagaCorp soars back to profit in 1H22, resumes dividend payments

Ben Blaschke by Ben Blaschke
Tue 19 Jul 2022 at 06:09
NagaCorp confirms full gaming operations now up and running at NagaWorld

NagaWorld

38
SHARES
956
VIEWS
Print Friendly, PDF & Email

Hong Kong-listed NagaCorp Ltd has reported a net profit of US$52.7 million for the six months to 30 June 2022, reversing a US$77.2 million loss recorded a year earlier on the back of higher business volumes across all business segments at its Cambodian integrated resort, NagaWorld.

According to information filed overnight, average daily business volumes in the lucrative mass and premium mass segments have recovered to 80.3% and 71.8% of 2019 levels respectively since Cambodia eased COVID-19 restrictions, while all segments also showed sequential growth in 2Q22 when compared with the March 2022 quarter.

As a result, NagaCorp reported US$130.1 million in EBITDA for the first six months of this year, up from US$4.5 million in 1H21.

Highlighting its steady improvement, NagaWorld generated gross gaming revenue of US$237.35 million for the six month period of which US$110.3 million was in Q1 – growing by 15.3% to US$127.1 million in Q2. Likewise, EBITDA grew by 13.2% quarter-on-quarter from US$61.0 million to US$69.1 million, while net profit grew by 39.4% from US$22.0 million in Q1 to US$30.7 million in Q2.

By segment, average daily volume in the mass market – comprising EGM bills-in and table game buy-ins – reached US$18.1 million, premium mass rollings reached US$16.2 million and Referral VIP rollings reached US$5.9 million.

In consideration of the company’s strong rebound, NagaCorp said it was recommending the payment of an interim dividend of US$0.73 per share – representing a payout of 60% of net profit – payable by way of scrip shares.

This, NagaCorp said, would “reward the long-term shareholders of the Company for their continuous support of the Company in particular during this difficult COVID-19 period; conserve cashflow; and improve the trading liquidity in the Company’s shares.”

It added, “Barring unforeseen circumstances, we believe that NagaCorp Ltd is a growth stock in a possibly deepening recessional environment.

“Our customers are very much localized, majority of them mainly from business migration in recent years from neighboring countries plus a small group of leisure travellers during the period when the respective international markets allowed travels plus a growing number of wealthy locals in search of escapism because of the favorable political, economic, and social environment in a nation which is slowly getting richer.”

RelatedPosts

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
Southern Son

Newport World Resorts bucks Manila gaming trend as revenue, profit up sharply in 1Q25

Fri 16 May 2025 at 16:00
Made in Australia

Aristocrat books growth across all business segments as 1H25 profit hits US$474 million

Wed 14 May 2025 at 07:03
Death by a thousand cuts

SkyCity revises down FY25 profit forecast on reduced customer spending

Tue 6 May 2025 at 10:49
Load More
Tags: CambodiaDividendsEbitdaNagaCorpNagaWorldprofit
Share15Share3
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

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...

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

by Ben Blaschke
Fri 30 May 2025 at 05:23

Genting Malaysia reported a 6% decline in group-wide revenue to MYR2.60 billion (US$613 million) in the three months to 31 March 2025, including a 7% drop in revenue at flagship Malaysian property Resorts World Genting (RWG) to MYR1.62 billion (US$382...

Macau’s hotel occupancy rate reaches 89% in July

Macau’s hotel occupancy rate climbed to 87.8% in April

by Pierce Chan
Thu 29 May 2025 at 17:27

Macau’s average hotel occupancy rate rose by 4.7 percentage points year-on-year to 87.8% in April, with the number of guests increasing by 3.4% to 1.2 million. According to data from the Statistics and Census Service (DSEC), there were 147 hotel...



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

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
  • 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