• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 28 September 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Premium mass drives NagaCorp to 23.7% year-on-year GGR increase in 1Q23

Ben Blaschke by Ben Blaschke
Thu 4 Apr 2024 at 04:56
NagaCorp confirms full gaming operations now up and running at NagaWorld

NagaWorld

15
SHARES
375
VIEWS
Print Friendly, PDF & Email

Hong Kong-listed NagaCorp reported gross gaming revenues of US$145.4 million in the three months to 31 March 2024, up 23.7% year-on-year thanks largely to impressive growth in the premium mass market at its Cambodian integrated resort, NagaWorld.

According to information filed overnight, mass market table games recorded a 34% increase in GGR for the period with premium mass high limit tables seeing 51% growth compared with 1Q23.

Average daily business volumes for the mass market in in 1Q24 were the highest since the reopening of the property in 3Q21, the company explained, adding that it had observed a “continuing increase of visitations to the property and international arrivals to the country.”

The mass market as a whole, including both table games and electronic gaming machines, booked a 19.9% increase in GGR to US$92.5 million on an 8.2% increase in buy-ins and bill-ins to US$951.3 million.

In the direct Premium VIP segment, GGR grew by 24.3% to US$35.5 million on a 19.3% improvement in rollings to US$1.16 billion. NagaCorp said average daily rollings in 1Q24 exceeded the average business volumes recorded in FY19 with the recovery of international tourist arrivals bolstered by the return of business-related travellers, who typically have longer repeated stays and higher spending power.

Referral VIP enjoyed a 47% increase in GGR to US$17.4 million although rollings were down 9.3% year-on-year to US$351.3 million.

“The Group will continue to develop the Referral VIP Market by identifying and recruiting more reputable Referral VIP agents by leveraging on the competitive incentive program and entertainment offerings,” NagaCorp said.

Adjusted EBITDA in 1Q24 grew by 32.6% year-on-year to US$80.4 million.

In its filing, the company noted that its total cash and bank balances had increased to US$414.3 million as of 31 March 2024, while it also intends to drawdown a loan of up to US$80 million extended by its controlling shareholder, Dr Chen Lip Keong, shortly before his passing late last year. These will be used to pay off the outstanding 7.95% senior notes totalling US$472.2 million upon their maturity on 6 July 2024.

NagaCorp previously stated its confidence in being able to cover this looming debt despite some analysts expressing concerns.

RelatedPosts

IEC issues profit warning on widened losses through December 2021

IEC falls to US$36 million loss in FY25 but 200% increase in gaming revenues suggests bright future for Manila IR project

Sat 27 Sep 2025 at 11:56
Days after satellite casino Grand Dragon ceases operations, Melco completes closure of first Mocha slot club Kuong Fat

Days after satellite casino Grand Dragon ceases operations, Melco completes closure of first Mocha slot club Kuong Fat

Thu 25 Sep 2025 at 16:24
IEC issues profit warning on widened losses through December 2021

Upgrade work at Manila’s New Coast hotel and casino has International Entertainment Corp expecting US$32.5 million loss in FY25

Mon 22 Sep 2025 at 05:48
Industry lawyer: All hope not lost for Thailand’s deflated casino bill

Industry lawyer: All hope not lost for Thailand’s deflated casino bill

Thu 18 Sep 2025 at 20:04
Load More
Tags: Cambodiacasinogross gaming revenuesNagaCorpNagaWorldPremium Mass
Share6Share1
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Evolution Asia
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
NWR

Related Posts

IEC issues profit warning on widened losses through December 2021

IEC falls to US$36 million loss in FY25 but 200% increase in gaming revenues suggests bright future for Manila IR project

by Ben Blaschke
Sat 27 Sep 2025 at 11:56

Hong Kong-listed International Entertainment Corp (IEC) said it remains confident in the long-term prospects of its Manila hotel and casino project after booking a 200% year-on-year increase in gaming revenue in the 12 months to 30 June 2025. While increased...

1xBet celebrates role as industry flagship at SBC Summit 2025

1xBet celebrates role as industry flagship at SBC Summit 2025

by Newsdesk
Sat 27 Sep 2025 at 11:32

Global sports betting brand 1xBet has celebrated its participation in this year’s SBC Summit, noting that its standing as Premium Sponsor highlighted the company’s role in industry growth and the significance of the European region for the brand. 1xBet said...

Football the focus as Vietnam revises sports betting decree

Vietnam considering revised US$380 daily betting cap on international football

by Newsdesk
Sat 27 Sep 2025 at 09:06

Vietnam’s Ministry of Finance wants to update the maximum amount individuals can bet on international football matches per day, with the current VND1 million (US$38) allowed per category to be replaced by a daily limit of VND10 million (US$380), according...

FBM to unveil multiple slot title premieres at G2E in Las Vegas

FBM to unveil multiple slot title premieres at G2E in Las Vegas

by Newsdesk
Sat 27 Sep 2025 at 08:45

Industry supplier FBM has outlined the product range it will showcase at the upcoming Global Gaming Expo (G2E) in Las Vegas, headed by new slot titles “Lanterns of Fu” and Hippo’s Lock”. Located in Booth 2848, FBM said it would...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English