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Cambodian casino operator NagaCorp says it’s not worried about the COVID-19 pandemic because the business believes its Phnom Penh On line casino monopoly will outlast the virus. On Wednesday, NagaCorp issued a buying and selling update on its effectiveness in excess of the very first 3 months of 2020, in the course of which gross gaming revenue at its NagaWorld facility in Cambodia’s funds rose 15% 12 months-on-calendar year to US£368.8m. The Q1 gains have been totally mainly because of the VIP phase, which noticed turnover increase eighteen% to $nine.7b, whilst VIP gross gambling earnings shot up by just one-quarter to $270.2m. NagaCorp credited the surge to VIPs viewing Cambodia as possessing at least appeared to dodge the worst of the pandemic so far. Mass industry table online games experienced a far more tepid quarter, with obtain-ins and profits both of those slipping 1% from Q1 2019, owing mainly to numerous Asia-Pacific nations restricting their citizens power to journey due to the pandemic. This also impacted Digital gaming device functionality, which described credits down 25% and revenue down fifteen%. NagaCorp pointed out that its robust All round displaying predated Cambodia’s governing administration buying the shutdown of all casinos to attenuate further more spread in the COVID-19 coronavirus. not like most other On line casino jurisdictions, Cambodia’s shutdown get experienced no specific end date, but NagaCorp claims its monetary reserves of all over $473m should let it to ride out this storm, even so very long it lasts.
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