AI Summary
Sign in to listen

NagaCorp 2026 Q1 GGR rises 2.1% to US$174.7m

Mass market growth offsets continued softness in VIP segments.

1 min read
naga corp
Key Points
First 3 months of 2026 GGR up 2.1% year-on-year to US$174.7m
Mass market table and electronic gaming machine segments record strong gains
Premium and referral VIP rollings decline sharply

NagaCorp reported unaudited gross gaming revenue of US$174.7m for the three months ended March 31 2026. The figure represents a 2.1% increase from US$171.2m in the same period last year, according to a voluntary filing with the Hong Kong Stock Exchange.

Net gaming revenue rose 7.9% year-on-year to US$160.0m, compared with US$148.3m in the first quarter of 2025.

Performance during the quarter was driven primarily by the mass market segment. Public floor table buy-ins increased 15.7% to US$379.6m, while gross gaming revenue from those tables climbed 23.9% to US$91.3m. Electronic gaming machines also posted solid growth, with bills-in rising 21.3% to US$811.4m and related GGR up 8.4% to US$38.3m.

By contrast, VIP segments continued to decline. Premium VIP rollings fell 42.2% to US$1.16bn, with GGR decreasing 16.2% to US$35.9m. Referral VIP rollings dropped 54.5% to US$225.9m, while GGR in that segment declined 52.4% to US$9.2m. 

The results reflect a continued shift in revenue mix toward the mass market, which helped offset lower VIP turnover during the period.

The operator emphasized that the operational data are based on a preliminary assessment of internal records and management accounts and have not been audited or reviewed by its external auditor.

For the full year ended December 31 2025, NagaCorp reported gross gaming revenue of US$691.6m, up 27.4% from US$542.9m in 2024. The company ended the year with US$372.3m in cash and minimal leverage, supported by Cambodia’s continued tourism recovery and economic growth.

Good to know

The figures are unaudited and based on preliminary internal management accounts

Reaction Board

Set Global Gaming Insider to be your preferred search result

News Analysis

View All
finlandbear

The €1bn question: Does Veikkaus’ lottery monopoly signify an unfair advantage?

As Finland’s demonopolisation nears, Veikkaus’ role in the new market becomes increasingly clear, following its timely return to growth over the first half of 2026.

3 min read • • By Will Underwood
Ballys Analysis

Boom or bust: Which of Bally’s new US developments holds the most potential?

As the operator prepares to launch new casino-resorts in Las Vegas, Chicago and New York, recent concerns regarding Bally’s financials may cast doubt on each’s long-term potential. But which one offers the most?

7 min read • • By Kirk Geller
Fedbet analysis

Romania under pressure: Institutional stability should be a priority – Fedbet President

Global Gaming Insider speaks to Fedbet President Alexandru Domșa about Romania’s changing gambling landscape.

4 min read • • By Marieta Lezaic

In The News

View All
Michigan iGaming August
[ELEVATED IMPORTANCE]

Michigan iGaming, online sports betting AGR rises 11.9% to $315m for August

The state’s online sports betting handle for August decreased 2.5% from the prior year period, while Michigan’s online sports betting revenue fell 29.3% to $24.2m.

· Legal & Regulatory + 5