GGRAsia – Okada Manila 3Q GGR up 128pct y-o-y says Universal

Okada Manila 3Q GGR up 128pct y-o-y says Universal

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.