Okada Manila GGR up 60pct sequentially in 3Q

Oct 15, 2021 Newsdesk Latest News, Philippines, Top of the deck  

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Japanese gaming conglomerate Universal Entertainment Corp says gross gaming revenue (GGR) at the group’s Okada Manila casino resort (pictured in a file photo) in the Philippine capital, rose circa 59.6 percent quarter-on-quarter, to PHP4.17 billion (US$82.2 million), from just over PHP2.61 billion in the second quarter.

VIP table game GGR for the three months to September 30 was PHP2.22 billion, up 47.2 percent quarter-on-quarter. Mass table games revenue was PHP848 million, while gaming machine revenue was just under PHP1.10 billion.

During the third-quarter reporting period, Manila’s casino resorts were subject to shutdown as a Covid-19 countermeasure, starting from August 6.

As of Thursday (October 14) the casinos at those properties were still subject to closure, according to an announcement that day from the Presidential Spokesperson, Harry Roque, although staycations at Manila casino resort hotels were being permitted again starting from Saturday (October 16).

For the third quarter, Okada Manila also reported PHP93 million in “other revenue”, including hotel and retail revenue.

Adjusted segment earnings before interest, taxation, depreciation and amortisation (EBITDA) for the period, were PHP443 million, versus a negative EBITDA result to the tune of PHP204 million in the second quarter.

In the three months to September 30, the property had 304,250 visitors, versus 208,024 visitors in the second quarter.

Okada Manila is run by a Universal Entertainment subsidiary, called Tiger Resort, Leisure and Entertainment Inc.

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