All segments on the rise
NagaCorp has announced a 67 percent increase in rolling chip volume in its VIP business for the nine-month period that ended September 30. Business increased US$4.4 billion to US$11 billion—up US$6.6 billion from the same period in 2016.
Gaming volume across all three segments grew a total of 57.2 percent for the period, according to Inside Asian Gaming.
VIP volume for the third quarter was up 58 percent to US$3.2 billion due to “deferred trips as junkets and players await the opening of Naga2 in the coming weeks,” wrote Union Gaming analyst Grant Govertsen.
“Our full 2H17 VIP volume estimate is +64 percent and includes the benefit of Naga2 for the last two months of the year,” Govertsen continued. “Given the current trajectory of VIP, in addition to what should be a VIP spike post Naga2 opening, upside to our VIP estimate is likely. Our 2H17 forecast assumes US$6.8 billion in VIP volume, of which US$3.2 billion was delivered in 3Q17.”
Increased tourism by Chinese players accounted for the jump in VIP volume, reported the Asia Gaming Brief. Mass table buy-ins to September 30 amounted to US$566 million for a 34 percent increase. Electronic gaming machine improved 16 percent to US$1.3 billion. The Naga2 complex is scheduled to open this fall.
