NagaCorp draws down US$70m of US$80m loan
The company said it is confident that 2024 notes will be discharged in full upon maturity.
Cambodia.- NagaCorp’s board has announced through a company filing that it has drawn down US$70m from a US$80m loan agreement it received last October to refinance and discharge a portion of outstanding 2024 notes.
The notes were issued in July 2020 and June 2021. NagaCorp had already repurchased some in 2023, leaving US$472.2m outstanding. The company stated it is confident that with this drawdown, the notes will be discharged in full upon maturity.
NagaCorp posted gross gaming revenue (GGR) of US$145m for the first quarter of the year, up 23.7 per cent when compared to Q1 2023. Earnings before interest, tax, depreciation and amortisation (EBITDA) was US$80.3m, up 33 per cent year-on-year. GGR for Mass Market table games increased by 34 per cent. The key growth driver was premium mass high-limit table games, up 51 per cent in year-on-year terms.
