Dec 05, 2022 Newsdesk Latest News, Philippines, Top of the deck  
Third-quarter gross gaming revenue (GGR) rose 128.3 percent year-on-year at the Okada Manila casino resort in the Philippine capital, reported on Friday its parent Universal Entertainment Corp.
Such GGR was just under PHP9.52 billion (US$170.8 million) for the three months from July to September, compared to PHP4.17 billion in the prior-year period.
From May 31, to early September, Okada Manila had been occupied and run by people representing Universal Entertainment’s ousted founder, Kazuo Okada. Universal Entertainment had previously stated it would take longer than usual to prepare the financial third quarter results.
VIP GGR at Okada Manila for the third quarter, rose 78.2 percent year-on-year, to PHP3.96 billion. Mass-table GGR was up 194.1 percent, at PHP2.49 billion.
Machine game GGR increased by 178.9 percent, to nearly PHP3.07 billion.
Total property revenue – including hotel operations, food and drink business and entertainment – increased by 141.2 percent year-on-year, to PHP10.28 billion.
Adjusted segmental earnings before interest, taxation, depreciation and amortisation (EBITDA) at the property jumped by 451.2 percent from the prior-year period, to PHP2.44 billion.
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The Macau government has made public the maximum number of licensed gaming promoters – also known as ‘junkets’ – that each of the city’s casino operator will be able to work with in...(Click here for more)
"We [estimate] that these illegal [currency exchange] transactions account for somewhere between 50 percent to 60 percent [of Macau's annual gross gaming revenue]”
Ben Lee
Managing partner at IGamiX Management and Consulting