NagaCorp reports 17.7% growth in Q1 gaming revenue

NagaCorp has posted higher revenue for the first quarter of 2025, with improvements across all core segments of its casino operations in Phnom Penh.

Key points:

– Gross gaming revenue rose 17.7% to $171.2m

– Net gaming revenue increased 20.6% to US$148.3m

– VIP rolling volumes climbed, led by strong premium player activity

The group reported gross gaming revenue of $171.2m for the three months ending 31 March, compared to $145.5m a year earlier. Net gaming revenue for the quarter reached $148.3m, representing a year-on-year gain of 20.6 per cent.

The premium VIP segment recorded rolling chip volume of US$2.01bn, an increase of 72.6%. This generated gross revenue of $42.9m. The referral VIP segment also saw growth, with rolling volume up 41.3% to $496.5m and revenue rising to $19.3m.

Mass market performance remained stable. Revenue from public table games totalled $57.5m, slightly up from $56.4m a year earlier. Electronic gaming machines brought in $51.5m, with bills-in increasing by 4.8% to $994.6m. 

The company operates the NagaWorld integrated resort under an exclusive licence in Phnom Penh. It has not reported any operational disruptions during the reporting period.

These results are unaudited and reflect the group’s continued recovery and growth following broader regional tourism trends.