NagaCorp expects “significant” increase in net profit

NagaCorp, operator of Phnom Penh’s NagaWorld, said it expects to record a significant year-on-year increase in net profit attributable to shareholders as a result of a recent accord to operate electronic gaming machines with a group of investors.

The company sees profit of not less than $100 million and potentially more for the half year ending 30 June 2015.

Based on a preliminary review of the unaudited management accounts of the company, the figure would be expected to represent an increase of not less than 40 percent or potentially more over the same period last year.

“The increase is largely attributable to the $40 million receipt by the group from certain investors with whom the group will, together, be operating an electronic gaming machines business within NagaWorld, as announced by the company on 28 May 2015,” NagaCorp said in a filing to the Hong Kong stock exchange.