Net profit for 2024 at Cambodian casino resort operator NagaCorp Ltd fell by 38.3 percent year-on-year, though group revenue was up 5.5 percent from the previous year.
Such annual net profit was US$109.6 million, compared to US$177.7 million in 2023. The decline was “primarily attributable” to a non-cash impairment loss of US$89.1 million recognised on the group’s casino construction project at Primorye, near the Russian Pacific port city of Vladivostok.
The Hong Kong-listed firm has a long-life casino monopoly in the Cambodian capital Phnom Penh, where it runs the NagaWorld casino resort (pictured).
Group-wide revenue for 2024 was US$562.5 million, versus US$533.2 million a year earlier, it said in a Tuesday filing…
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