Nagacorp reported revenue of $ 242.9 million (£ 203.2 million / € 238.2 million) in the first half of 2022 due to the full prosperity of its business segment.
This was an increase of 9.5% compared to the first half of 2021.
Most of the revenue came from casino game tables, an increase of 7.6% from a total of $ 181.8 million compared to the first half of 2021.
Revenues from electronic casino game consoles were $ 55.5 million, an increase of $ 36.5 million annually. Revenues from hotel rooms, grocery sales and other sources of revenue accounted for the remaining $ 5.6 million, five times the corresponding revenues recorded in the first half of 2021.
Revenues from Nagacorp’s mass market segment accounted for $ 158.8 million of total revenues, more than three times higher than mass market revenues in the first half of 2021. Premium mass market revenue in the first half was $ 61.3 million. This is also more than three times the $ 18.8. m was recorded in the first half of 2021.
Referral VIP market revenue is $ 17.3 million and non-gaming revenue is $ 5.6 million, accounting for the rest.
The game tax was $ 14.2 million, more than double the results for the first half of 2021. However, cost of sales fell 34.5% to $ 36.5 million.
This resulted in annual gross profit of $ 192.2 million, more than 2.5 times the $ 68 million gross profit recorded in the first half of 2021.
Other income added $ 2 million to the total. However, with administrative expenses of $ 25 million and other operating expenses of $ 97 million, operating alone made a profit of $ 72.1 million.
Treasury costs fell slightly to $ 18.1 million and pre-tax profit was $ 53.9 million. After deducting $ 1.2 million in income tax, total net income was $ 52.7 million. This is an increase of $ 129.9 million from the same period in 2022.
Interest, taxes, depreciation and profit before amortization (EBITDA) exceeded $ 130.1 million, compared to the $ 4.5 million EBITDA recorded in the first half of 2021.
Meanwhile, Q2 revenue totaled $ 127 million, up 15.3% from Q1.
Quarterly growth was also seen in all three Nagacorp business segments. Second-quarter mass market revenue was $ 9.6 million, up 15.9%. Premium mass rolling also increased 14.5% to $ 8.6 million, while referral VIP rolling doubled year-on-year to $ 3.9 million.
EBITDA increased 13.1% to $ 69 million.
