Logo of Phnom Penh Post newspaper Phnom Penh Post - Spending in NagaCorp casino drops

Spending in NagaCorp casino drops

Spending in NagaCorp casino drops

Spending in NagaCorp’s casino has dropped by about 4.4 per cent in the first quarter of the year compared with the same period last year.

Some $1.17 billion was gambled in the casino from January to March this year, said a company quarterly report released last month. The bulk came from junkets and VIP gamblers, who doled out $832.7 million, an 11 per cent drop from the corresponding period last year.

The report did not give a reason for the drop. However, it noted “the management of the Company has already implemented plans to increase business volume [in the junket VIP segment]”.

According to an analysis by Hong Kong-based research firm China Everbright Research, “the sharp decrease was mainly due to the four-day long funeral of Cambodia’s late King Norodom Sihanouk in February”.

Meanwhile, spending at NagaCorp’s mass gaming areas hit $341.7 million, a 16 per cent increase. This growth could be attributed to the rise in tourism in Cambodia, NagaCorp’s report said.

The figures do not represent the company’s revenue, as the winnings paid out to gamblers have not been taken into account. In 2012, NagaCorp’s casino raked in $278.8 million in revenue.

MOST VIEWED

  • US think tank warns of China's 'ulterior motives'

    A US think tank on Tuesday warned that spreading Chinese investment in the Indo-Pacific follows a pattern of leveraging geopolitical influence at the expense of the nations receiving investment, including Cambodia. The report looks at a sample of 15 Chinese port development projects, noting that the

  • More than three tonnes of ivory reportedly bound for Cambodia seized in Mozambique

    A total of 3.5 tonnes of ivory reportedly bound for Cambodia was seized by authorities in Mozambique late last week, according to the NGO Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES). CITES' information was based on a report from the

  • Defence Ministry denies weapons in smuggling case came from Cambodia

    After a Thai national was arrested last week for allegedly smuggling guns from Cambodia to Thailand, Cambodia's Defence Ministry has claimed the weapons seized during the arrest are not used in Cambodia, despite the fact that both types of rifle seized are commonly found in

  • Shipwreck found off coast of Koh Kong

    Royal Cambodian Navy researchers are working to identify a decades-old shipwreck found earlier this month off the coast of Koh Kong province. Divers found the 70-metre-long wreck on April 4 about a mile from Koh Chhlam island, according to Navy officials. Deputy Navy Commander Tea Sokha,