Okada Manila 3Q GGR up 9pct sequentially

Oct 12, 2023 Newsdesk Latest News, Philippines, Top of the deck  

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Casino gross gaming revenue (GGR) rose 9.4 percent quarter-on-quarter at the Okada Manila casino resort (pictured) in the Philippine capital, according to a Wednesday filing from its promoter, Tiger Resort, Leisure and Entertainment Inc.

The unit of Japanese conglomerate Universal Entertainment Corp said such GGR for the three months to September 30 was PHP12.35 billion (US$217.7 million), compared to PHP11.29 billion in the second quarter.

Judged year-on-year, third-quarter casino GGR was up 29.7 percent.

Other non-gaming third-quarter revenue actually fell slightly on a sequential basis: to PHP912 million, from PHP915 million in the second quarter. Measured year-on-year, such revenue rose 19.7 percent.

Adjusted segmental earnings before interest, taxation, depreciation and amortisation (EBITDA) for Okada Manila increased by just under 16.0 percent judged quarter-on-quarter, to nearly PHP3.56 billion. Year-on-year, such earnings went up by 45.6 percent.

Third-quarter VIP table games GGR was flat sequentially, at PHP4.42 billion, but up 11.7 percent year-on-year.

Mass table games GGR for the three months to September 30 was up 33.7 percent quarter-on-quarter, at just under PHP4.11 billion. Judged year-on-year, it rose 64.6 percent.

Third-quarter gaming machine GGR was flat sequentially, at PHP3.82 billion. Year-on-year, it rose 24.6 percent.

The number of visitors to the property in the third quarter rose 35.0 percent year-on-year, to nearly 1.5 million.

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