NagaCorp Posts GGR of US$224 million in 2021, 74% Drop Y-o-Y

• 10 February 2022
• Local News
• 1078 Views

NagaCorp, the company behind Phnom Penh’s largest casino NagaWorld, has posted Gross Gaming Revenue (GGR) of US$223.5 million in 2021, a 74% decrease compared to the amount earned in 2020.

Despite a longer business closure period in 2021 (about 6.5 months) as compared to 2020 (about 3.5 months), the company witnessed a quicker recovery of business volume post the second re-opening.

In 2021, the firm recorded adjusted EBITDA at US$22.4 million, an 91% drop compared to the amount last year of US$265.2 million.

However, NagaCorp is seeing the growth trajectory carried through January 2022. In particular, the daily average of the Mass Table buy-ins further improved to US$2.9 million which is almost back to the same level as February 2021.

 

• Business and Market