NagaCorp has announced a 67% increase in rolling chip volume for its VIP business to just over US$11 billion for the nine months to 30 September 2017.
In a voluntary announcement on Tuesday, NagaCorp revealed across the board increases to its gaming business turnover, with mass table buy-ins up 24% to US$566.4 million and ETG bills-in up 16% to US$1.3 billion.
But the company’s rolling chip business has been the biggest mover, increasing by US$4.4 billion to US$11 billion, having generated US$6.6 billion during the same period in 2016.
Gaming volume across all three segments combined grew 57.2% for the period.
VIP volume for 3Q17 grew 58% to US$3.2 billion, slightly down in absolute dollar terms on second quarter numbers due to “some number of deferred trips as junkets and players await the opening of Naga2 in the coming weeks,” according to Union Gaming analyst Grant Govertsen.
“Our full 2H17 VIP volume estimate is +64% and includes the benefit of Naga2 for the last two months of the year. 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.”
