{"id":253,"date":"2024-06-27T02:15:46","date_gmt":"2024-06-26T23:15:46","guid":{"rendered":"https:\/\/funclubcasinonodepositbonus.icu\/2024\/06\/27\/nagacorp-posts-101-4-million-profit-despite-pandemic-closures\/"},"modified":"2024-06-27T02:15:46","modified_gmt":"2024-06-26T23:15:46","slug":"nagacorp-posts-101-4-million-profit-despite-pandemic-closures","status":"publish","type":"post","link":"https:\/\/funclubcasinonodepositbonus.icu\/2024\/06\/27\/nagacorp-posts-101-4-million-profit-despite-pandemic-closures\/","title":{"rendered":"NagaCorp Posts $101.4 Million Profit Despite Pandemic Closures"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/vQPM8S-v0Mw\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>The Cambodian gaming enterprise, NagaCorp, reported a total profit of $101.4 million during the 2020 fiscal year, even though its gambling establishments were shuttered due to the global health crisis.<\/p>\n<p>NagaCorp achieved a profit of $101.4 million for the entirety of 2020, despite the pandemic forcing casinos to close their doors.<\/p>\n<p>Earnings for the twelve-month period ending on December 31 amounted to $878.7 million, a significant decrease of 49.9% compared to the $1.76 billion recorded in the previous year. This decline was attributed to the temporary closure of NagaWorld in Cambodia, which was mandated from April to July as part of the country&#8217;s COVID-19 mitigation efforts.<\/p>\n<p>Traditional table games constituted the primary revenue source for NagaCorp, contributing $787.3 million to the company&#8217;s total earnings in 2020. Electronic table games generated $82.4 million in revenue, while hotel accommodations, food and beverage services, and other revenue streams brought in $9.1 million.<\/p>\n<p>However, the cessation of operations led to a reduction in the cost of goods sold, which fell to $451.7 million, representing half of the $909.2 million recorded in the preceding year. This resulted in a gross profit of $427 million, a year-over-year decrease of 49.6%.<\/p>\n<p>For the entire year, earnings before interest, taxes, depreciation, and amortization (EBITDA) reached $265.2 million, supported by relatively normal operational activity during the initial quarter before the full implementation of COVID-19 measures.<\/p>\n<p>Other operating expenses experienced a decline of 8.4%, reaching $205 million. <\/p>\n<p>NagaCorps earnings hit $300 million in 2020, while keeping administrative costs in check at $61.1 million. After subtracting $33.2 million in financial charges, NagaCorps pre-tax earnings were $132.1 million, a drop of 76.1% compared to 2019.<\/p>\n<p>NagaCorps paid $29.8 million in taxes that year, ultimately achieving a net profit of $102.3 million. After taking into account an $894,000 loss due to currency fluctuations related to international operations, NagaCorps overall profit in 2020 was $101.2 million, a decrease of 80.6% year-over-year.<\/p>\n<p>Despite the substantial decline in NagaCorps profits, the company stated that the successful reopening of its flagship resort, &#8220;NagaWorld,&#8221; indicates that the business will recover over time.<\/p>\n<p>NagaCorp stated, &#8220;Since the reopening of casino operations on July 8, NagaCorps mass market segment has recovered to approximately 95%, and the VIP market segment has recovered to about 69%.&#8221;<\/p>\n<p>&#8220;The satisfactory recovery in gaming volume and revenue is largely attributed to the sizable expatriate community, as well as tourists from East Asia, primarily China, Korea and Taiwan, who seek entertainment at NagaWorld.&#8221;<\/p>\n<p>&#8220;Looking forward, the company believes that the rollout of vaccines and the eventual expected gradual reopening of borders across Asia will likely further improve Cambodia&#8217;s economy and tourism sector, which will have a positive impact on the group&#8217;s business.&#8221;<\/p>\n<p>Image: Christophe95 on Wikimedia Commons<\/p>\n<p>Sign up for the iGaming newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Cambodian gaming enterprise, NagaCorp, reported a total profit of $101.4 million during the 2020 fiscal year, even though its gambling establishments were shuttered due to the global health crisis. NagaCorp achieved a profit of $101.4 million for the entirety of 2020, despite the pandemic forcing casinos to close their doors. Earnings for the twelve-month [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NagaCorp Profits Despite Pandemic Closures<\/title>\n<meta name=\"description\" content=\"NagaCorp reported a $101.4 million profit in 2020, despite casino closures due to the global health crisis.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/funclubcasinonodepositbonus.icu\/2024\/06\/27\/nagacorp-posts-101-4-million-profit-despite-pandemic-closures\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"NagaCorp Posts $101.4 Million Profit Despite Pandemic Closures\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"NagaCorp reported a $101.4 million profit in 2020, despite casino closures due to the global health crisis.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/funclubcasinonodepositbonus.icu\/2024\/06\/27\/nagacorp-posts-101-4-million-profit-despite-pandemic-closures\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Experience the Ultimate in Casino Excitement | Licensed &amp; Secure\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-26T23:15:46+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/funclubcasinonodepositbonus.icu\/2024\/06\/27\/nagacorp-posts-101-4-million-profit-despite-pandemic-closures\/\",\"url\":\"https:\/\/funclubcasinonodepositbonus.icu\/2024\/06\/27\/nagacorp-posts-101-4-million-profit-despite-pandemic-closures\/\",\"name\":\"NagaCorp Profits Despite Pandemic Closures\",\"isPartOf\":{\"@id\":\"https:\/\/funclubcasinonodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-26T23:15:46+00:00\",\"dateModified\":\"2024-06-26T23:15:46+00:00\",\"author\":{\"@id\":\"https:\/\/funclubcasinonodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"NagaCorp reported a $101.4 million profit in 2020, despite casino closures due to the global health crisis.\",\"breadcrumb\":{\"@id\":\"https:\/\/funclubcasinonodepositbonus.icu\/2024\/06\/27\/nagacorp-posts-101-4-million-profit-despite-pandemic-closures\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/funclubcasinonodepositbonus.icu\/2024\/06\/27\/nagacorp-posts-101-4-million-profit-despite-pandemic-closures\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/funclubcasinonodepositbonus.icu\/2024\/06\/27\/nagacorp-posts-101-4-million-profit-despite-pandemic-closures\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/funclubcasinonodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"NagaCorp Posts $101.4 Million Profit Despite Pandemic Closures\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/funclubcasinonodepositbonus.icu\/#website\",\"url\":\"https:\/\/funclubcasinonodepositbonus.icu\/\",\"name\":\"Experience the Ultimate in Casino Excitement | Licensed &amp; Secure\",\"description\":\"Immerse yourself in the excitement of licensed online gambling through our up-to-date news, honest game reviews, and informative insights. 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