Hong Kong-listed NagaCorp has reported gross gaming revenues of US$410.8 million for the nine months to 30 September 2024, up 8.4% year-on-year on strong growth in the mass gaming segment. Net gaming revenue grew by 10.6% to US$358.9 million.
Releasing a voluntary update overnight, the company revealed mass gaming revenues – comprising table games and electronic gaming machines – reached US$290.1 million, up 17.3% year-on-year, on a 7.0% increase in mass buy-in to US$2.89 billion.
Referral VIP, meaning players referred by agents, also booked a 23.8% increase in GGR to US$39.8 million on rollings of US$1.40 billion.
However, premium or in-house VIP saw GGR decline by 18.8% year-on-year to US$80.9 million, with rollings down 13.4% to US$2.64 billion.
NagaCorp previously reported GGR of US$283.4 million for the first six months of the year, suggesting 3Q24 GGR was a little subdued at US$127.4 million.
The company had also reported a US$1.0 million loss in 1H24 after recognizing a US$89.1 million non-cash impairment loss on its stalled integrated resort development in Vladivostok, Russia.
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