NagaCorp figures show strong VIP uptick

Home » NagaCorp figures show strong VIP uptick

Cambodian casino operator NagaCorp reported a 43.9 per cent uptick in premium VIP rolling chip in 1Q23 to $976m as China reopened travel to the country.

Despite the VIP rise, gross gaming revenue rose just 6.8 per cent yearly to $117m due to “generally lower” win rates.

According to a Monday stock exchange filing, NagaCorp also saw an uptick in the referral VIP market, with a 117.9 per cent rise annually and 22.6 per cent quarterly to $387.1m, while referral VIP GGR rose 175.6 per cent year-on-year, to $11.7m.

The group notes that many of the increased headcount from the segment was “from our neighboring countries such as Thailand, Malaysia and Singapore.”

“The management observed a continuing increase of visitation to our property,” notes the group, “especially Chinese visitors in March 2023 after the Chinese government allowed tour groups to Cambodia since February 2023.”

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The figure accompanied a strong increase in direct weekly flights from Greater China to Cambodia, up 225.7 per cent, to 114 flights.

Source: Asia Gaming Brief

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