47% increase from the US$271.9 reported in the same period in 2014.

Nagakov runs Nagaworld, the company’s flagship destination casino located in Phnom Penh, Cambodia’s capital. Naga World is Cambodia’s largest hotel, game and leisure operator and the only casino in the country not located along the Cambodian border region. Nagakov’s website says the company owns a 70-year license for operations within a 200-kilometer [125-meter) radius of Phnom Penh and a 41-year monopoly with 2035 expiring. Nagakov was incorporated into the Cayman Islands.

Reuters recently quoted Grant Goversen, an analyst at Union Gaming Securities, as saying [Macao’s] VIP gambling industry outlook will continue to deteriorate. Nagakov sees Macau’s recession as an opportunity, and in the company’s 2015 interim report, says it plans to “further infiltrate the regional and Chinese gaming markets.”

Nagakov relies entirely on tourism income because it is illegal for Cambodian residents to gamble in their own country. According to an interim report, there were 2.3 million visitors to Cambodia in the first half of 2015, 21% from Vietnam, 15% from China, and 10% from South Korea, with a 22% year-on-year increase in Chinese visitors. Cambodia is not currently tracking gambling revenues from the country’s 75 licensed casinos.

Writing in Seeking Alpha, independent gambling investment analyst Vince Martin warned that much of NagaCorp’s VIP market growth is due to “buying Chinese VIP revenue” through junket sales and high operating costs related to VIP gambling diverted from Macau.실시간 바카라사이트

Nagakov is also building the Primorsky Entertainment Resort City (PERC Project) in Vladivostok, Russia, which is not expected to be operational until 2018.