Premium VIP Market was up by 52 per cent driven by 42 per cent increase in Chinese players
A huge upsurge in Chinese visitation saw Cambodian casino NagaWorld deliver robust growth in GGR of 27.4 per cent and a 26.3 per cent increase in gross profit, driven by the subsequent increase in Premium VIP Market play
Mass market GGR for the year increased by 22.8 per cent to US$485m whilst VIP market GGR grew by 39.7 per cent during the year to US$206.6m. Mass Market Tables’ average daily GGR in FY2025 has now surpassed the average daily GGR achieved in the pre-pandemic financial year ended December 2019.
But the key metric was the Premium VIP Market which was up by 52 per cent year-on-year to US$15.1m. Operator NagaCorp said: “The strong rebound was fueled by the increased influx of higher value business travelers into Cambodia and higher gaming spend among our premium VIP clientele. These patrons consist primarily of regional business owners who demonstrate stronger spending power, extended stay durations and frequent repeat visitation.”
“This solid growth has been achieved while maintaining the group’s disciplined credit risk management framework. The majority of Premium VIP players are cash players, resulting in minimal credit exposure. The increase in rollings volume was driven purely by a higher volume of visitors, not by extending credit terms or taking on additional credit risk. This prudent approach ensures that growth is both sustainable and of high-quality.”
The segment’s momentum is supported by Cambodia’s thriving business travel ecosystem. International business arrivals grew by 11.4 per cent YoY to 1,551,791 visitors in 2025, reaching 113.2 per cent of 2019 pre-pandemic level. Chinese visitation to Cambodia accelerated sharply by 41.5 per cent during the year. Key markets included China (47.7 per cent), Vietnam (18.7 per cent), Indonesia (6.4 per cent), Thailand (3.8 per cent) and Taiwan (3.4 per cent).
The mass market tables segment was up 27.2 per cent year-on-year. The strategic rollout of higher margin side bet games has led to elevated win rates over the past 12 months. The higher win rate alone contributed approximately US$39m in incremental revenue during the year. The Premium Mass high-limit areas continue to attract higher-value patrons, significantly enhancing Mass Market table yield and driving a notable shift in customer mix. Premium Mass revenue now represents 38.5 per cent of total Mass Market Tables GGR, up from 33.9 per cent in FY2024. As a result of these initiatives,
The Mass Market EGM segment delivered solid growth, with bills-in increasing by 12.5 per cent YoY. This drove average daily bills-in in FY2025 above the FY2019 levels, demonstrating sustained customer engagement and the effectiveness of our gaming floor optimization. Beyond gaming, the Group has also intensified initiatives to upgrade and optimize the existing NagaWorld property to maintain its competitiveness and appeal to regional customers. These initiatives—including enhancements to hospitality offerings, dining, entertainment amenities and service qualities—have contributed to driving higher property visitation and further support the NagaWorld’s financial performance.
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Premium VIP Market was up by 52 per cent driven by 42 per cent increase in Chinese players A huge upsurge in Chinese visitation saw Cambodian casino NagaWorld deliver robust growth in GGR of 27.4 per cent and a 26.3 per cent increase in gross profit, driven by the subsequent increase in Premium VIP Market…
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