The Russian gaming project that NagaCorp is involved in, which is now halted due to the conflict in Ukraine, is expected to incur an impairment charge of about $100 million. As a result, the Cambodian casino operator's profitability might be negatively impacted.
According to the Hong Kong-listed casino operator, who announced on Monday night, the projected fee for its gaming and resort project in Vladivostok, located in the Russian Far East, is anticipated to range between $85 million to $95 million.
According to NagaCorp, the assessment is based on an independent revaluation. Depending on the finishing amount, the bottom line for the year's first half may be anywhere from a net profit of $3.1 million to a net loss of $6.9 million.
