Nagacorp is less affected by virus

Business | Stella Zhai 12 Feb 2020

Mike Ngai, chief operating officer and chief marketing officer of hotel and casino operator Nagacorp (3918), said the company's business in Cambodia was less affected by the coronavirus outbreak.

He said the company's casino in Cambodia has attracted mainland customers during the 10 days before and after the Lunar New Year holiday after Macau closed its casino businesses.

Chairman Timothy McNally added that the company does not rely solely on the Chinese market, and around 60 percent of its revenue from VIP business comes from the Malaysian market.

Nagegorp posted a net profit last year increase of 33 percent from a year ago to US$521 million (HK$4.06 billion).

Basic earnings per share were 12.01 US cents and a final dividend of 5.09 US cents was declared. The company's revenue also grew 19 percent from a year ago to US$1.76 billion. The company said it will review, assess and where appropriate, revise its dividend declaration policy every six months in response to various factors.

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