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NagaCorp still on a roll, but at slower pace: Citi


geovalin

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Nagacorp Ltd, operator of the NagaWorld casino and hotel complex in Phnom Penh, exhibited strong revenue growth in the first quarter of the year and is expected to maintain this course through the end of the year, though at a slower pace, Citi Research said in its latest investor note on the Hong Kong-listed firm.

Citi analysts noted that NagaCorp’s reported gross gaming revenue (GGR) grew 35 per cent year-on-year in the first quarter of 2016 to $153.8 million, benefitting from strong growth in both the VIP and mass market.

“[We] expect solid GGR growth in 2016,” they said in the note, adding that 2016 would likely continue to be a “growth year” for NagaWorld.

read more: http://www.phnompenhpost.com/business/nagacorp-still-roll-slower-pace-citi

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