NagaCorp's 2025 profits soar as casino revenue hits record highs
NagaCorp has reported a strong financial performance for 2025, with significant growth across its casino operations. The company's net profit doubled, reaching US$309.9 million, while overall revenue climbed by 26.2% to US$709.7 million. This surge follows a year of expansion in both mass-market and VIP gaming segments. The company's flagship property, NagaWorld in Phnom Penh, saw gross revenue jump by 27.4% to US$691.6 million. Mass-market gaming at table games alone grew by 27.2%, bringing in US$342.4 million. VIP operations performed even more strongly, with house-managed revenues rising by 32.1% to US$136.2 million and referral VIP revenues up 57.2% to US$70.4 million.
EBITDA surged to US$404.4 million, more than doubling the previous year's figure of US$202.8 million. The absence of an US$89.1 million impairment charge for the Vladivostok project further boosted profitability. As a result, EBITDA margins reached 57.0%, while net profit margins climbed to 43.7%. Following the strong results, NagaCorp announced an interim dividend of US$0.0109 per share, totalling US$48.3 million. This payout aligns with the company's existing dividend policy. Meanwhile, **NAGA Group Ltd. (N4G.DE)**, a separate fintech entity, is preparing to launch its **SuperApp NAGA One** after a beta testing phase. The company plans technology upgrades, increased automation, and AI investments to improve marketing efficiency. These changes aim to grow its customer base by 38% while cutting customer acquisition costs by 16%.
NagaCorp's financial results for 2025 reflect broad-based growth in gaming revenue and profitability. The company's improved margins and dividend payout signal confidence in its ongoing operations. Meanwhile, NAGA Group's focus on fintech expansion highlights a separate push into digital financial services.
