NagaCorp Reports Revenue Growth Amidst Profit Decline Due to Impairment Loss

NagaCorp ( (HK:3918) ) has issued an update.

NagaCorp Ltd. reported a 5.5% increase in Gross Gaming Revenue (GGR) for the year ended December 31, 2024, reaching US$542.9 million. Despite this growth, the company’s net profit decreased by 38.3% to US$109.6 million, primarily due to a non-cash impairment loss related to the Vladivostok Project. The mass market segment, particularly the Mass Market Tables, significantly contributed to the company’s performance, driven by strategic initiatives and operational improvements, including the introduction of a high-limit gaming area at NagaWorld. This segment accounted for 70.2% of total revenue, highlighting its importance in NagaCorp’s financial performance.

More about NagaCorp

NagaCorp Ltd. is a company incorporated in the Cayman Islands, primarily operating in the gaming and entertainment industry. The company, along with its subsidiaries, focuses on mass market and premium VIP gaming segments, with a significant presence in the Asian market.

YTD Price Performance: 22.43%

Average Trading Volume: 6,677

Technical Sentiment Signal: Hold

Current Market Cap: $2.02B

Learn more about 3918 stock on TipRanks’ Stock Analysis page.