Cambodia’s top gambling operator Naga Corp. which runs the NagaWorld casino complex in the country has posted a 20.2 percent year-on-year increase in revenue for the first nine months of 2019 to September 30.
In its filing with the Hong Kong stock exchange, the gambling operator reported that it has taken in $1.29 billion in gross gaming revenue (GGR) from January to September, representing a 20.2 percent increase in revenue when compared with the same period the previous year.
While the casino gambling industry in the region takes a hit, as Macau continues to battle with slumping revenue amidst ongoing US-China trade war and pro-democracy protests in Hong Kong, it is benefitting the casinos in Cambodia.
The gambling venue is banking on increased VIP footfall.
“The Royal Government of Cambodia will stop the issuance of online gambling policy and licenses, both within and outside of the Kingdom of Cambodia, from the date of signing this directive,” said a directive signed by Prime Minister Hun Sen.
The online gambling ban in Cambodia has also triggered a mass exodus of the Chinese nationals from the country.
According to the estimated figures released by the Cambodian Ministry of Interior, about 120,000 Chinese nationals have left the country since the online gambling ban was officially announced. The Ministry said that about 6000 Chinese nationals have been leaving Cambodia every day since the ban was declared.