The business provided an update for the first nine months of the year following the end of the third quarter. Due to several closures throughout the year due to the novel coronavirus (Covid-19) – and similar closures in 2020 – the operator used daily averages recorded between 1 January 2021 to 1 March 2021, and then from 15-30 September 2021 when operations reopened.
Average daily gross gaming revenue (GGR) was $415,000, down 36.6% from the same period in 2020.
Daily buy ins for table games were $2.9m, down $3.5m from last year.
Daily GGR for premium mass games was $285,000, down 7.9% from last year. Average daily rollings were $6.1m.
VIP game daily revenue came to $814,000 – a 62.4% decrease from 2020.
A Nagacorp statement said the business currently relied heavily on domestic customers due to a lack of international travel.
“It is only natural that the company is continuously rejuvenating and revitalizing its businesses in face of a challenging COVID-endemic period,” it said “Hence, our business strategy focuses mainly on the domestic mass market, premium mass and the referral VIP business groups.
“Our strategy going forward is also to react to the opportunities offered by the tourism business
generated by foreign visitation when the visitation numbers pick up. The direction is clear that NagaWorld shall continue to promote tourism in line with the national expectation, more particularly, because of the strong bilateral ties between China and Cambodia, NagaWorld shall be a key player in the promotion of tourism related business between the two countries.”
Original article: https://igamingbusiness.com/nagacorp-sees-daily-revenue-decrease-so-far-in-2021/
