First quarter revenue climb for Nagacorp

Nagacorp has declared a 23.7 per cent boost in its gross gaming revenue in its unaudited figures for the quarter ending March 31, 2024.

The mass market  segment recorded a GGR growth of 34 per cent in the quarter, while premium mass high limit tables recorded an increase of 51 per cent. In all, the mass market average daily business volumes recovered to 86.6 per cent of its pre-pandemic level.

For the premium VIP market, however, the average daily business volumes actually exceed pre-pandemic levels, growing 24 per cent from 2023’s first quarter.

Based on the group’s preliminary unaudited consolidated management accounts, EBITDA in 1Q2024 of US$80.3m is 33 per cent higher as compared to 1Q2023.