Business
March 27, 2023
NagaCorp Returned to Profit in 2022 Helped by ASEAN Reopening
NagaCorp Ltd, a company incorporated in the Cayman Islands with limited liability and operator of NagaWorld integrated casino resort in Phnom Penh, Cambodia, published its full-year 2022 financial results, posting a net profit. Positive Financial Results For the twelve months ended December 31, 2022, NagaCorp generated revenue of $460.7 million, more than doubling its 2021 […]
Business
October 13, 2022
NagaCorp to Likely Face Financial Trouble, Moody’s Predicts
Moody Corporation’s bond credit rating business, Moody’s Investor Service, is concerned about the future of NagaCorp amid China’s war on junkets. The Hong Kong-listed Cambodian operator has been struggling to recover from the pandemic and now faces significant refinancing risks. Moody Is Concerned about NagaCorp Moody’s concerns became evident when the rating company downgraded NagaCorp’s […]
Casino
July 19, 2022
Naga Corp Rebounds with Net Profit of $52.7 million in H1
Hong Kong-listed Naga Corp reversed its losses from the first half year of 2021 with a net profit amounting to $52.7 million for the first half year of 2022. Sequential Growth in Results for Naga Corp for H12022 Increased foot traffic and overall business activities across all segments at Naga Corp’s integrated casino resort NagaWorld, […]
Industry
April 4, 2022
NagaCorp Reports Strong 1Q2022, Preliminary Results Say
NagaCorp, the company that operates NagaWorld located in Phnom Penh, Cambodia, announced its unaudited financial results covering the period that ended March 31, 2022. NagaCorp on Its Way to Financial Rebound Last year, the company has seen difficulties mainly because of COVID-related closures. Due to the COVID-19 pandemic, NagaCorp had to temporarily suspend its operations […]
Casino
March 15, 2022
Cambodia Court Released Eight Women LRSU Activists on Bail
Cambodian authorities released eight of the trade union members detained in January and February this year after the country was condemned for human rights violations by the UN. Ending Repression against LRSU Activists The conflict between the Labour Rights Supported Union of Khmer Employees (LRSU) of NagaWorld and NagaCorp around the unlawful layoff of 365 […]
Casino
March 10, 2022
NagaWorld Protests Finally Attract Senior Officials’ Attention
The ongoing NagaWorld casino workers protest in Cambodia has finally attracted the government’s attention, reported The Phnom Penh Post, stating the country’s Minister of Interior Sar Kheng decided to bring up the subject in a meeting with other government ministers. Government Officials to Discuss the Protests The Minister of Interior will host the meeting following […]
Casino
March 7, 2022
NagaCorp Suspends Vladivostok Casino Indefinitely Due to Russia’s War in Ukraine
It has been 11 days since Russia invaded Ukraine, its democratic neighbor, in what the world has described as an unprovoked and illegal invasion. While Russia itself has denied that it’s waging war and has suspended all foreign media at home to keep its population in an informational blackout, businesses from around the globe have […]
Casino
February 10, 2022
NagaCorp Exec Says China, Junkets Not Important to Recovery
NagaCorp, a beleaguered operator which posted $147 million in losses for its 2021 financial results this Wednesday, and has faced widespread protests in Cambodia against its decision to lay off close to 600 workers, is optimistic about the future of gaming in Asia now that junket operators are going to play a less impactful role […]
Casino
December 28, 2021
Naga World Protesters Demand NagaCorp Obeys Labour Laws
The continuing peaceful demonstrations of former NagaCorp employees in front of Naga World in Phnom Penh, Cambodia, prompted a response from the Ministry of Labour and Vocational Training, reported The Phnom Penh Post. Protests to Continue Marking a 10th consecutive day of protests, the people at the casino resort demanded a lawful solution to the […]
Business
December 27, 2021
NagaCorp Deferred Award Share Grants to FY2022 or FY2023
NagaCorp, the operator of NagaWorld casino resort in Cambodia, announced in a filing to the Hong Kong stock exchange that a planned share award program would be further delayed. Share Award Scheme Further Delayed NagaCorp stated in the Friday filing that, due to the prolonged global market disruption caused by the recent developments related to […]