Asia round-up: NagaCorp GGR declines, Grand Emperor Hotel to cease operations & more

NagaCorp has reported gross gaming revenue of $109.9m for the three months ended 31 March 2022, a 14% decline from the prior-year period. 

Asia News Round Up MACAU Web Image

Net gaming revenue did, however, improve from $72.6m in the three months ended 31 March 2021 to $96.9m for the three months ended 31 March 2022. EBITDA grew 58% to $60.5m. 

In the voluntary announcement, the group noted that it continues to see business recovery from quarter to quarter across various business segments. All of the company’s segments saw growth from Q4 2021 to Q1 2022. 

EBITDA grew 83% to $60.5m, while NagaCorp’s cash and cash equivalents increased from $102.7m as of 31 December 2021, to $162.7m as of 31 March 2022. 

The increase, as noted by the group, was due to the “continued recovery of business volumes, improved cost efficiency post rationalisation program and prudent cash expenditures decision from the company’s management.” 

In total, average daily net gaming revenue across all business segments amounted to $1.1m, a 33% increase from Q4 2021. 

NagaCorp, which operates NagaWorld in Phnom Penh, Cambodia, also noted that a total of 4.1 million domestic travellers were recorded in the first 34 days of 2022, with the capital proving to be the most popular destination.

Macau: Grand Emperor Hotel to cease casino operations 

Macau’s Grand Emperor Hotel will stop all casino operations from 26 June 2022.  

Parent company Emperor Entertainment Hotel opted to end its partnership with SJM Resorts, effectively ending the hotel’s role as a satellite casino.  

“Lai brings a rich and diverse work history to GLI’s clients, which includes experience on the casino floor and in the casino cage"GLI Asia

This comes following regulatory news filtering out from Macau’s Legislative Assembly, with Chan Chak Mo of the Second Standing Committee revealing plans are in motion to end operations in satellite casinos

Emperor Entertainment has cited a challenging business environment owing to Covid-19, as well as a gloomy outlook for the casino’s VIP sector. SJM Resorts has operated out of the Grand Emperor Hotel since 2010.

However, under new licences proposed by Macau’s SAR Government, this would become illegal within three years unless SJM were to buy out the Grand Emperor Hotel entirely. 

This development shows that potential outcome is now off the cards, as a host of satellite casinos announce impending closures in Macau.  

Other closures already announced include all four satellite casinos operated by Golden Dragon Group, which are due to close down by the end of the year. 

Felix Lai appointed GLI Asia Customer Service Representative 

Gaming Laboratories International (GLI) has appointed Felix Lai as its new Customer Service Representative for its GLI Asia location. 

Lai, who will assist the group’s clients throughout Asia, has over 10 years of experience in gaming and non-gaming in both Macau and the Philippines. 

Based in GLI Asia’s new office in Macau, Lai will work with different types of clients, helping them navigate the “evolving future of gaming by taking full advantage of GLI’s exclusive integrated approach to compliance,” a statement from the group read. 

The company also noted: “Lai brings a rich and diverse work history to GLI’s clients, which includes experience on the casino floor and in the casino cage; as well as working with slot developers, and with non-gaming companies in online and offline enterprises.” 

Operating hours increased in South Korea’s Kangwon Land  

The only casino that offers local supply in South Korea, Kangwon Land, has announced an extension to its operating hours. 

This follows some easing of social restrictions caused by the Covid-19 pandemic.  

The casino will now be open from 10am to midnight; however, capacity is still capped at 50%, with a maximum of 3,000 gamers allowed in at any one time.  

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