NagaCorp ups its monthly contribution
The Cambodian government took in $48 million in gaming taxes for 2016, up more than 38 percent from $34.7 million taken in the previous year. According to CalvinAyre.com, the tax man “put the squeeze on top operator NagaCorp,” which paid an additional $16.5 million in payments for the year after agreeing to pay back taxes on non-gaming revenue.
The operator of NagaWorld in the capital city of Phnom Penh also agreed to increase its monthly gaming obligation to the government from $365,000 per month to $411,000. NagaWorld recorded a 4 percent increase in gross gaming revenue last year for a total of $500.8 million.
According to data from the company filed to the Hong Kong Stock Exchange filing in February, mass market revenues rose 7 percent to $129.7 million while revenues from electronic gaming machines increased 6 percent to $145.5 million. VIP earnings were nearly flat, with a mere 1 percent increase to $225.7 million.
The company’s net profit rose 7 percent in 2016 to $184.2 million, the Daily reported.
According to the Cambodian Finance Ministry, there were 77 valid casino licenses in the country and 65 operational casinos.
