The group also reported an increase in Q1 earnings despite COVID-19
Nagaworld in the south-east Asian country Cambodia ,has recently reported that despite the challenging times of the COVID-19 Pandemic, the Group’s 1Q 2020 financial result is relatively stable and has delivered an increase of 15% in Revenue.
The casino has only been shut down as of April 1st, and until that date all the VIPs that couldn’t go to Macau because of travel restrictions and closures went to Nagaworld instead. Thus, it has been one of the few casinos that has actually seen a positive COVID-19 bump.
Nagacorp who manages Nagaworld is very reliant on its government monopoly and believes COVID-19 will do very little to harm operations.
Officially, there are only 122 total cases in Cambodia and zero deaths. Furthermore, NagaCorp recently extended its Phnom Penh casino monopoly until 2046.
NagaCorp has also released new images of Naga 3, the operator’s proposed $3.5 billion expansion of its NagaWorld casino in Phnom Penh. Naga 3 is set to be the largest integrated resort in the country, with five towers and facilities including gaming, and an eleven-level entertainment podium.
Tthe property will feature 90 percent non-gaming offerings. Naga 1 opened in December 2006, while Naga 2 opened in November 2017.
The new resort will be built over a maximum of 544,801 square meters and will be linked to the existing Naga 1 and 2 through an underground walkway.
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