NagaCorp posts modest quarterly growth 

Mass gaming strength continues to drive revenue at Cambodia’s NagaWorld despite a sharp contraction in premium and referral VIP segments.

Cambodia.- Casino operator NagaCorp has reported a modest increase in gross gaming revenue (GGR) for the first quarter of 2026. Continued growth in mass market segments offset a significant decline in VIP play at the NagaWorld integrated resort in Phnom Penh.

According to the voluntary trading update, GGR for the three months ended March 31 was US$174.7m, representing a 2.1 per cent year-on-year increase. Net gaming revenue rose 7.9 per cent year-on-year to US$160m.

The growth was driven entirely by the mass market segment. Public floor table GGR increased 23.9 per cent year-on-year to US$91.3m, supported by a 15.7 per cent rise in buy-ins. Electronic gaming machines GGR was up 8.4 per cent to US$38.3m.

However, premium VIP GGR fell 16.2 per cent year-on-year to US$35.9m, with rolling volume down 42.2 per cent. Referral VIP GGR declined by 52.4 per cent to US$9.2m with a 54.5 per cent fall in rolling volume.

For 2025, the operator reported GGR of US$691.6m, up 27.4 per cent year-on-year. Net profit increased 56 per cent to US$309.9m, while EBITDA rose 38.5 per cent to US$404.4m.

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Mass gaming strength continues to drive revenue at Cambodia’s NagaWorld despite a sharp contraction in premium and referral VIP segments. Cambodia.- Casino operator NagaCorp has reported a modest increase in gross gaming revenue (GGR) for the first quarter of 2026. Continued growth in mass market segments offset a significant decline in VIP play at the…