NagaWorld demonstrates positive start to 2021


NagaWorld demonstrates positive start to 2021

Hong Kong listed NagaCorp has published its financial report for the first quarter of 2021, showing that NagaWorld is recovering after February’s Covid-19 community spread.

The report discussed the average daily volume the company experienced during the first quarters of 2021 and 2020.

It showed that for tables buy-ins NagaWorld generated $3.74m (£2.70m) compared to 2020’s first quarter of $3.76m, showing a recovery percentage of 99%.

As for EGM Bills-in it also experienced a recovery percentage of 99%, since it earned $5.52m in 2020 and $5.44m this year.

The group said that the daily average for table buy-ins and EGMS was actually higher before the February outbreak. Compared to the second half of 2020, the company was making “positive sequential growth.”

It said: “Public floor table average daily buy-ins and EGM average daily bills-in grew by 5.2% and 3.6%, respectively, compared to the respective average daily volume recorded in 2H2020.”

It feels the recovery experienced this year was largely due to a “reasonably sized expatriate community” and visitors flooding in from East Asian countries like China, South Korea, and Taiwan.

For the first three months of 2021, the company had a gross gaming revenue (GGR) of $127m and net gaming revenue of $73m. The mass tables buy-ins amounted to $202m and the GGR for mass tables was $30m, while mass EGM bill-ins reached $298m and GGR $17m.