NagaCorp VIP turnover surges two-thirds in year-to-date

Cambodian casino operator NagaCorp has enjoyed a more than two-thirds rise in its VIP gambling business over the first nine months of 2017.

NagaCorp filed papers with the Hong Kong Stock Exchange on Tuesday showing unaudited VIP gambling turnover at its flagship NagaWorld property in Cambodia’s capital Phnom Penh rising 67% year-on-year to just over $11b in the nine months ending September 30, despite the demise in January of a high-profile junket deal with Jimei International.

The mass market figures for the year-to-date were more subdued but nonetheless impressive, with mass table buy-ins up 24% to $566.4m and electronic gaming machine bills-in rising 16% to over $1.3b thanks in part to a double-digit rise in Chinese tourist visitation.

The figures reflect a continuation of the solid performance the company enjoyed over the first six months of the year. In July, NagaCorp reported its H1 2017 revenue rising nearly 40%, while profit improved by more than one-fifth to $150.6m.