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Cambodian On line casino operator NagaCorp claims it’s not concerned about the COVID-19 pandemic since the company believes its Phnom Penh On line casino monopoly will outlast the virus. On Wednesday, NagaCorp issued a buying and selling update on its performance above the 1st a few months of 2020, in the course of which gross gaming earnings at its NagaWorld facility in Cambodia’s money rose 15% calendar year-on-year to US$368.8m. The Q1 gains were being totally due to VIP segment, which observed turnover rise eighteen% to $9.7b, when VIP gross gambling profits shot up by one particular-quarter to $270.2m. NagaCorp credited the surge to VIPs viewing Cambodia as possessing at the very least appeared to dodge the worst from the pandemic thus far. Mass market place table games experienced a much more tepid quarter, with get-ins and revenue both equally falling 1% from Q1 2019, thanks largely to numerous Asia-Pacific nations proscribing their citizens power to journey mainly because of the pandemic. This also impacted Digital gaming device functionality, which claimed credits down twenty five% and earnings down 15%. NagaCorp observed that its solid All round showing predated Cambodia’s government ordering the shutdown of all casinos to attenuate further spread of your COVID-19 coronavirus. contrary to most other casino jurisdictions, Cambodia’s shutdown order experienced no qualified stop date, but NagaCorp states its monetary reserves of about $473m ought to permit it to trip out this storm, however prolonged it lasts.
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