NagaCorp reports GGR up 17 percent

NagaCorp’s gross gaming revenue increased by 17 percent to $381.4 million last year, with VIP rollings rising by 35 percent to $6.2 billion, according to the company’s latest financial statement.
The company – which operates Cambodia’s biggest casino, NagaWorld in Phnom Penh – said Macau’s downturn offers opportunities to further attract Chinese gamblers.
“The downturn in gaming in Macau offers opportunities for the Group to further penetrate the Chinese gaming market in both the VIP and Mass Gaming segments, by offering better commercial terms to junket operators and agents as a result of NagaWorld’s low cost structure,” the company said.
NagaCorp plans to sign up more Macau-based junkets seeking to diversify their operations in Asia, in the coming months.
“The 35 percent increase in VIP rollings in 2014 demonstrates NagaWorld’s incentive program’s success in promoting NagaWorld to a wider range of operators and players, particularly from China,” NagaCorp said.
Despite the strong growth in gross gaming revenue the company’s net profit grew just 9 percent to $136 million as a result of higher incentives given to junket operators and higher staff costs.