Political stability in Cambodia serves as NagaCorp’s buoy in H1

The good times rolled in HongKong-listed casino operator NagaCorp Ltd. in the first half of 2017, thanks to a stable political climate in Cambodia.

NagaCorp Chairman Timothy McNally stated in the company’s interim report dated August 18 that the 20.3 percent net profit growth in January to June 2017 period would not have been possible if the political climate in Cambodia was volatile.

The political stability in Cambodia, according to McNally, has encouraged more players from China to come in to the Southeast Asian nation and play. As a result, NagaCorp, the operator of Phnom Penh’s NagaWorld casino and hotel complex, chalked an impressive $150.6 million net profit in the January to June 30, 2016 period, as a result of a surge in VIP rollings.

Gross gaming revenue also jumped 40 percent year-on-year to $386.8 million in the first half of the year.