À̹ÌÁö È®´ë The Cambodian flag appears on the digital display of the Naga 2 hotel and casino in Phnom Penh. [Sreng Meng Srun]
CASINO operator NagaWorld reported a nearly 20 per cent increase in net profits in the first half this year, earning about $180 million over the period, thanks to a surge of Chinese visitors, a company announcement said.
Its statement said the growth in volume is attributable to increasing visits at both Naga 1 and Naga 2, particularly from Chinese tourists, whose numbers grew 79 per cent in the first four months of this year.
¡°Phnom Penh has come of age as an attractive location and preferred destination for operators and players coming from both Southeast Asia and East Asia, especially China,¡± the NagaWorld statement says.
¡°This allows the group to further penetrate new markets, fueling business growth and expansion.¡±
NagaCorp Ltd, listed on the Hong Kong Stock Exchange in 2006, holds a 70-year casino licence that will expire in 2065. It also has a 41-year exclusive licence to operate casinos in Phnom Penh.
During the first half, VIP gaming revenue soared 162.6 per cent, taking NagaCorp¡¯s total revenue to $732.9 million. The company reported profit before taxation at $184.5 million and tax expenditures of $4.4 million.
Non-gaming revenue - the income from hotel operations, food and beverage, and entertainment - increased to $19.1 million, primarily fuelled by a 69 per cent increase in room nights sold after the opening of Naga 2, as well as better performance across all food and beverage outlets.
By The Phnom Penh Post(Published: 30/07/2018)
https://www.phnompenhpost.com/business/naga-profits-spike-surge-china-visitors
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