Nagacorp 2013 revenues jump 24 percent as GGR gains

    Nagacorp says 2013 group revenue rose 24 percent to $344.9 million, driven by strong performance from Nagaworld, with gross gaming revenue rising 25 percent. 

    Net profit increased by 24 percent to $140.3 million. The company said it saw higher business volumes in both the mass and VIP market, and said VIP margins improved.

    In Cambodia, international tourist arrivals continued to outperform worldwide tourism growth by recording 4.2 million visitors in 2013, an increase of 17 percent, it said. For 2014, the company plans to increase connectivity to NagaWorld, which should translate into higher visitations for both Mass and VIP Markets. The frequency of direct weekly flights to Cambodia has increased from 360 in 2012 to 396 at the end of 2013. The group is collaborating with travel agents, especially from China, to organize charter flights to Phnom Penh.