NagaCorp Holdings Reports 12.1% Increase in Year-to-Date Total Gaming Revenue
Gelonghui – October 3, 2023
NagaCorp Holdings (03918.HK) has announced a year-on-year increase of 12.1% in its year-to-date total gaming revenue. According to the company’s unaudited accounts for the nine months ended September 30, 2023, the total gaming revenue reached US$379 million, up from US$338 million in the same period last year.
The company also reported a 7.8% increase in the turnover of the midfield segment, which includes gaming table chips and investments in electronic gaming machines. This growth was observed from the beginning of 2023 to the present.
The growth in chips pledged at mass gaming tables saw a significant acceleration in the three months ended September 30, 2023, with a year-on-year increase of 18.5%. This increase was attributed to the satisfactory performance of the high-limit gaming area and the higher per capita spending by customers.
In the high-end VIP market, transcoding experienced a substantial increase of 35.2% compared to the same period last year. Additionally, the average daily transcoding in the referral VIP market segment increased by 43.3% year-to-date in 2023.
The unaudited preliminary earnings before interest, taxes, depreciation, and amortization (EBITDA) for the year to date in 2023 was US$215.4 million, representing a 17.4% increase from the same period last year.
As of September 30, 2023, NagaCorp Holdings had cash and cash equivalents of US$297.6 million. The company’s net debt, calculated as total liabilities minus cash and bank balances, is approximately US$1.746.
While these figures indicate positive growth for NagaCorp Holdings, it is essential for investors to exercise caution. The financial community warns that the content, data, and tools provided in this article are for reference only and do not constitute any investment advice. Investors should be aware of the risks involved in the stock market and make informed decisions.
With the increase in total gaming revenue and positive financial indicators, NagaCorp Holdings is poised for continued growth in the gaming industry.