• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

NagaCorp says close to signing 8 new junkets

Aug 07, 2014 Newsdesk Latest News, Rest of Asia, Top of the deck  


NagaCorp says close to signing 8 new junkets

NagaCorp Ltd, the operator of the NagaWorld casino hotel in Cambodia, told analysts on Thursday it is finalising contracts with eight new junkets, including some from Macau.

“The impact of these junkets could be felt as soon as 4Q14, although 2015 should truly be a break-out year for Naga’s VIP story,” Union Gaming Research Macau Ltd said in a note on Thursday.

Hong Kong-listed NagaCorp said Wednesday total revenue for the first half of 2014 increased by 26 percent year-on-year to US$191 million. The casino operator reported a 27-percent jump in year-on-year terms in gross gaming revenue to US$180.3 million.

NagaWorld is the country’s largest casino complex and the only in capital Phnom Pehn.

The company posted solid growth in the VIP segment driven by the junket incentive programme it launched in 2013. NagaCorp has been expanding table limits for junket partners willing to work on a revenue share basis.

“It is important to point out that the growth in Naga’s VIP segment has come without the benefit of any Macau-based junkets, the introduction of which will materially transform VIP at NagaWorld,” Union Gaming analysts Grant Govertsen and Felicity Chiang wrote in the note.

“The VIP programme will, in part, be driven by Naga’s two Airbus A320s (along with existing smaller jet aircraft), which should launch next month to destinations like Macau and Hong Kong, which will be followed by service to mainland China in October,” added the research house.

NagaCorp said in Wednesday’s filing that it has established a marketing office in Macau as it plans to sign up new junket operators and promote NagaWorld to the North Asian market.

On Thursday’s analyst briefing, the company’s management said the extension of NagaWorld should be operational during the first half of 2017. Naga2 will include more than 1,000 new hotel rooms and luxury suites, up to 300 gaming tables and 500 electronic gaming machines.

During the briefing, the casino operator also announced that it has already started preliminary planning work on Naga3, “which would be located in-between the current NagaWorld and Naga 2 facilities,” Union Gaming said, adding that no other details were announced.


  • tweet
Related articles
  • NagaCorp posts US$102mln profit in 2020 despite pandemic
    NagaCorp posts US$102mln profit in...

    Mar 09, 2021  

  • Donaco not mulling sale of Vietnam casino hotel: execs
    Donaco not mulling sale of Vietnam...

    Mar 08, 2021  

More news
  • GLI boss Maida hosting web interviews with casino experts
    GLI boss Maida hosting web interviews...

    Mar 09, 2021  

  • Bloomberry posts positive 4Q EBITDA, rev up 31pct q-o-q
    Bloomberry posts positive 4Q EBITDA,...

    Mar 09, 2021  


Latest News

GLI boss Maida hosting web interviews with casino experts

GLI boss Maida hosting web interviews with casino experts

Mar 09, 2021  

Gaming technology testing service and consultancy, Gaming Laboratories International LLC, known as GLI, is to launch on Thursday (March 11) a series of online interviews featuring its president and...
Read More
NagaCorp posts US$102mln profit in 2020 despite pandemic

NagaCorp posts US$102mln profit in 2020 despite pandemic

Mar 09, 2021  

Bloomberry posts positive 4Q EBITDA, rev up 31pct q-o-q

Bloomberry posts positive 4Q EBITDA, rev up 31pct q-o-q

Mar 09, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

“Our recovery is well under way. We look forward to a more meaningful improvement in 2021 should we see further easing of domestic quarantine restrictions and the eventual resumption of travel and tourism across our key markets"

Enrique Razon

Chairman and chief executive of Bloomberry Resorts



Most Popular

  • Lim Kok Thay, GEN Singapore execs in US$1.3mln stock awardLim Kok Thay, GEN Singapore execs in US$1.3mln stock award March 2, 2021
  • Las Vegas Sands to sell off Nevada assets for US$6.25blnLas Vegas Sands to sell off Nevada assets for US$6.25bln March 3, 2021
  • Pansy Ho again cuts stake in MGM Resorts, for US$57mlnPansy Ho again cuts stake in MGM Resorts, for US$57mln March 4, 2021
  • LVS plans to keep U.S. base, stock listing: spokesmanLVS plans to keep U.S. base, stock listing: spokesman March 4, 2021
  • Fitch says LVS Nevada sale a negative, Moody’s keenerFitch says LVS Nevada sale a negative, Moody’s keener March 5, 2021
Copyright 2014-2021 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us