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Business
April 4, 2024
NagaCorp Publishes Q1 Results, Highlights VIP Segment Growth
NagaCorp, a Hong Kong-listed gambling company, has published its unaudited operational highlights for the first quarter of the year, reporting a significant increase in gross gaming revenue. The company’s results were underpinned by a strong performance of the premium VIP market. In the three months ended March 31, 2024, NagaCorp recorded a total GGR of […]
Casino
December 11, 2023
Chen Lip Keong Passes Away, NagaCorp Stock Plummets
Chen Lip Keong, one of the richest men in Malaysia, has passed away at 76. His death occurred on December 8 and was announced by the NagaCorp board in a filing with the Hong Kong Stock Exchange. Chen, who developed the NagaCorp casino and hospitality brand, suffered a stroke a decade ago, sparking speculations that […]
Business
March 27, 2023
NagaCorp Returned to Profit in 2022 Helped by ASEAN Reopening
NagaCorp Ltd, a company incorporated in the Cayman Islands with limited liability and operator of NagaWorld integrated casino resort in Phnom Penh, Cambodia, published its full-year 2022 financial results, posting a net profit. Positive Financial Results For the twelve months ended December 31, 2022, NagaCorp generated revenue of $460.7 million, more than doubling its 2021 […]
Business
October 13, 2022
NagaCorp to Likely Face Financial Trouble, Moody’s Predicts
Moody Corporation’s bond credit rating business, Moody’s Investor Service, is concerned about the future of NagaCorp amid China’s war on junkets. The Hong Kong-listed Cambodian operator has been struggling to recover from the pandemic and now faces significant refinancing risks. Moody Is Concerned about NagaCorp Moody’s concerns became evident when the rating company downgraded NagaCorp’s […]
Casino
July 19, 2022
Naga Corp Rebounds with Net Profit of $52.7 million in H1
Hong Kong-listed Naga Corp reversed its losses from the first half year of 2021 with a net profit amounting to $52.7 million for the first half year of 2022. Sequential Growth in Results for Naga Corp for H12022 Increased foot traffic and overall business activities across all segments at Naga Corp’s integrated casino resort NagaWorld, […]
Industry
April 4, 2022
NagaCorp Reports Strong 1Q2022, Preliminary Results Say
NagaCorp, the company that operates NagaWorld located in Phnom Penh, Cambodia, announced its unaudited financial results covering the period that ended March 31, 2022. NagaCorp on Its Way to Financial Rebound Last year, the company has seen difficulties mainly because of COVID-related closures. Due to the COVID-19 pandemic, NagaCorp had to temporarily suspend its operations […]
Casino
March 15, 2022
Cambodia Court Released Eight Women LRSU Activists on Bail
Cambodian authorities released eight of the trade union members detained in January and February this year after the country was condemned for human rights violations by the UN. Ending Repression against LRSU Activists The conflict between the Labour Rights Supported Union of Khmer Employees (LRSU) of NagaWorld and NagaCorp around the unlawful layoff of 365 […]
Casino
March 10, 2022
NagaWorld Protests Finally Attract Senior Officials’ Attention
The ongoing NagaWorld casino workers protest in Cambodia has finally attracted the government’s attention, reported The Phnom Penh Post, stating the country’s Minister of Interior Sar Kheng decided to bring up the subject in a meeting with other government ministers. Government Officials to Discuss the Protests The Minister of Interior will host the meeting following […]
Casino
March 7, 2022
NagaCorp Suspends Vladivostok Casino Indefinitely Due to Russia’s War in Ukraine
It has been 11 days since Russia invaded Ukraine, its democratic neighbor, in what the world has described as an unprovoked and illegal invasion. While Russia itself has denied that it’s waging war and has suspended all foreign media at home to keep its population in an informational blackout, businesses from around the globe have […]
Casino
February 10, 2022
NagaCorp Exec Says China, Junkets Not Important to Recovery
NagaCorp, a beleaguered operator which posted $147 million in losses for its 2021 financial results this Wednesday, and has faced widespread protests in Cambodia against its decision to lay off close to 600 workers, is optimistic about the future of gaming in Asia now that junket operators are going to play a less impactful role […]