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NagaCorp Earnings Surge on Strong Gaming Growth and Margin Expansion

Story Highlights
  • NagaCorp’s Gross Gaming Revenue rose 27.4% in 2025, led by strong mass market and VIP growth.
  • Net profit and EBITDA jumped sharply on margin expansion and cost discipline, supporting a higher dividend.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
NagaCorp Earnings Surge on Strong Gaming Growth and Margin Expansion

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An announcement from NagaCorp ( (HK:3918) ) is now available.

NagaCorp reported a strong set of results for the year ended 31 December 2025, with Gross Gaming Revenue rising 27.4% to US$691.6 million, driven by both mass market and VIP segments. Mass Market GGR climbed 22.8% to US$485.0 million, while VIP GGR jumped 39.7% to US$206.6 million on a near 40% increase in business volumes.

Excluding the prior year’s non-cash impairment on its Vladivostok project, net profit surged 56.0% to US$309.9 million and EBITDA grew 38.5% to US$404.4 million, lifting EBITDA and net profit margins to 57.0% and 43.7%, respectively. The group attributed the margin expansion to higher volumes, a strategic push into higher-margin mass market offerings such as side bet games, and tight control of administrative and operating expenses, and it proposed a higher final dividend to return part of these gains to shareholders.

The most recent analyst rating on (HK:3918) stock is a Hold with a HK$4.50 price target. To see the full list of analyst forecasts on NagaCorp stock, see the HK:3918 Stock Forecast page.

More about NagaCorp

NagaCorp Ltd. is a Hong Kong–listed gaming and hospitality group operating casino and integrated resort businesses, with a focus on mass market and VIP gaming. The company generates revenue primarily from Gross Gaming Revenue streams and related resort services, positioning itself as a major player in the regional casino and entertainment industry.

YTD Price Performance: -14.16%

Average Trading Volume: 4,217,198

Technical Sentiment Signal: Sell

Current Market Cap: HK$17.69B

For detailed information about 3918 stock, go to TipRanks’ Stock Analysis page.

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