Summary by Futu AI
Nagacorp announced its interim performance for the six months ended June 30, 2024, with a 12.3% increase in total gambling revenue compared to the same period last year, reaching $283,400,000. Mid-term gambling revenue grew by 17.8%, and VIP market gambling revenue also increased by 2.3%. Gross profit (excluding gambling tax) increased by 14.0% to $231,000,000. However, due to a non-cash impairment loss of $89,100,000 in the Vladivostok project, a net loss of $1,000,000 was recorded, compared to a net profit of $83,000,000 in the same period last year. Basic loss per share was $0.02, compared to basic earnings per share of $1.88 in the same period last year. EBITDA was $55,500,000, a decrease of 61.3% compared to the same period last year. The company has repaid $472,200,000 in maturing notes in July 2024. The board of directors does not recommend the payment of interim dividends.