GGRAsia – VIP gross revenue doubles at NagaWorld in 1Q

VIP gross revenue doubles at NagaWorld in 1Q

Apr 01, 2015 Newsdesk Latest News, Rest of Asia, Top of the deck

Cambodia casino operator NagaCorp Ltd said gross gaming revenue (GGR) at its Phnom Penh resort NagaWorld (pictured) rose 48 percent year-on-year in the three months to March 31.

Gross revenue from the VIP segment doubled, to US$65.5 million, from nearly US$32.6 million in the equivalent period in 2014.

The firm issued on Wednesday to the Hong Kong Stock Exchange its unaudited results for the period.

Total GGR at NagaWorld rose to approximately US$113.5 million, from nearly US$76.9 million in the year-prior period. The company gave no commentary on the numbers in its filing. But the document showed most of the growth was in the high roller market, which the casino’s management has been courting in the wake of the crackdown on corruption in China that has seen rich Chinese gamblers stay away from Macau.

In the VIP segment, NagaWorld’s rolling chip turnover for the three months to March 31 reportedly jumped 79 percent to nearly US$1.70 billion, from approximately US$946.1 million in the year-prior period.

In the mass market, table buy-ins (drop) rose 12 percent year-on-year to nearly US$130.0 million, from US$115.6 million in the first three months of 2014. Slot machine drop was up 6 percent year-on-year in the first quarter of 2015, to US$289.6 million.

Gross revenue from the mass segment rose 8 percent year-on-year, to nearly US$48.0 million, from US$44.3 million in 2014, the company said.