Preheat the oven to 350 degrees F (175 degrees C).
Heat a large nonstick skillet over medium-high heat. Cook and stir ground beef in the hot skillet until browned and crumbly, 5 to 7 minutes. Drain and discard grease.
While beef is cooking, mix together evaporated milk and condensed soups in a large bowl. Set aside.
Transfer drained beef to a 9x13-inch baking dish. Spread corn evenly over beef. Layer potato nuggets over corn. Pour milk-soup mixture over potatoes.
Bake in the preheated oven for 45 minutes. Top with Cheddar cheese and continue baking until potatoes are golden brown and cheese is melted, 15 more minutes. Let sit for 20 minutes before serving.