Cambodian gambling giant NagaCorp Ltd recently announced its full-year financial report for 2025, with net profits soaring to $309.9 million, nearly tripling from $109.6 million in 2024. Excluding the asset impairment impact of about $89.1 million from the Russian project in the previous year, profitability is even more pronounced. The company's total revenue reached $709.7 million, a year-on-year increase of 26.2%, and EBITDA doubled to $404.4 million, with overall business conditions fully recovering. Simply put, tourists have returned, high-end clients have returned, and the company has made a beautiful comeback.
Mass market: Double harvest of gaming tables + electronic gambling
Located in Phnom Penh, NagaWorld continues to serve as the core engine of revenue. In 2025, total gambling revenue grew by 27.4% to $691.6 million, with mass market table games revenue at $342.4 million (+27.2%), and electronic gambling machine revenue at $142.6 million (+13.5%). The volume of mass market business increased by 12.6%, with the win rate rising to 22.9%, and the introduction of high-profit "side bet games" contributed about $39 million in additional revenue. The proportion of high-end mass customers increased, further elevating the overall revenue structure.
VIP business rebounds strongly, high-net-worth customers return
Self-operated VIP revenue $136.2 million (+32.1%), with rolling chip volume soaring by 51.6% to $5.5 billion; referred VIP business revenue $70.4 million (+57.2%), with rolling chip volume increasing to $2.32 billion. The company noted that this was mainly due to an increase in high-end business travelers to Cambodia and the return of high-net-worth customers.
Returning profits to shareholders and future layout
The company announced the distribution of an interim dividend of $0.0109 per share, totaling about $48.3 million, accounting for 30% of the net profit for the second half of the year. Meanwhile, NagaCorp will continue to advance the expansion plan of the NagaWorld complex "Naga 3", but the investment scale will be moderately reduced to optimize the efficiency of capital use. Analysts believe that the recovery of regional tourism and the rebound in gambling demand have provided strong support for performance, but the sustainability of future profits will still be affected by changes in customer structure, policy environment, and regional competition. Want to know the latest trends in the Cambodian gambling market? PASA official website continues to track.
————
This article is from "PASA-Global iGaming Leader" gambling industry news channel:https://t.me/pasa_news
Original in-depth gambling channel:https://t.me/gamblingdeep
Free data reports: @pasa_research
PASA Matrix: @pasa002_bot
PASA official website: https://www.pasa.news
