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Hong Kong-listed casino operator and developer Nagakov Inc NAGAKOF said it recorded a "relatively good recovery and maintenance" of its average daily gaming business for the two months ended Sept. 30. The company said it has expanded its gaming area within the complex to meet rising demand.
The company operates a naga world casino complex (file photo) in Phnom Penh, the capital of Cambodia. It has an exclusive license to operate casinos in Phnom Penh and the surrounding area.
Nagakov said in a filing on Sunday that the average daily business volume in the large market gaming sector recovered to 97% of the average in the first quarter of 2020 before the casino shutdown in April.
Daily sales of VIP rolling chips (post-closing period) have returned to 71% of the average for the first quarter of this year, the company said.
The casino operator said the daily average of public market table purchases from August to September was $3.5 million, up from $3.76 million in the first quarter of 2020. The average daily volume of the electronic game console (EGM) business was $5.54 million, it added, back to normal levels.
For the two months to September 30, VIP rolling chips had daily sales of nearly US$76.1 million, compared to US$106.5 million in the first quarter of 2020.
All casinos in Cambodia have been temporarily ordered to close since April 1, part of a number of measures aimed at preventing further spread of the pandemic domestically.
Nagakov was granted permission to resume operation of VIP gambling tables and slot machines as it introduced a series of COVID-19 response measures on July 8. The company announced on July 19 that large market gaming tables could also resume.
The casino company said in a filing on Sunday that it had converted additional non-gaming space into gaming territory "in response to the growth of its gaming business" in the third quarter. It referred to the conversion of the Garden Buffet restaurant into an "already-started" EGM zone.
Nagakov said he observed "footprints and new customer growth" in the casino's mass market segment, particularly in premium mass and high-restrictive gaming zones. "After resuming casino operations in July 2020, the premium mass segment became a major mass market revenue growth driver," it said.
The company also said its VIP business size recorded "a mainly satisfactory recovery by a significant number of foreigners currently living and doing business in Cambodia."
"The group observed a repeat of VIP and new customer pools, both in junket halls and directly in VIP player game halls," it added
Naga Corp Ltd reported in August that its net profit for the first half of 2020 was slightly above $20.6 million, down 91.6% year over year.
BY: 릴게임사이트