• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Okada Manila posts full-2018 GGR of US$522mln: Universal

Jan 11, 2019 Newsdesk Latest News, Philippines, Top of the deck  


Okada Manila posts full-2018 GGR of US$522mln: Universal

Japanese gaming company Universal Entertainment Corp says its Okada Manila casino resort (pictured) in the Philippines recorded adjusted segmental earnings before interest, taxation, depreciation and amortisation (EBITDA) of PHP2.14 billion (US$41.0 million) in full year 2018.

A Philippine subsidiary, Tiger Resort, Leisure and Entertainment Inc, runs Okada Manila.

Universal Entertainment told the Jasdaq Securities Exchange on Thursday that Okada Manila generated gross gaming revenue of nearly PHP27.22 billion in the 12 months ended December 31. That included VIP GGR of PHP12.65 billion, and mass-market table GGR of PHP6.84 billion. Gaming machine revenue for full 2018 stood at PHP7.73 billion.

The company did not provide year-on-year comparisons. Okada Manila had a soft opening in late December 2016, with new amenities gradually added to the property since.

The venue, in the Philippine capital, posted non-gaming revenue of PHP1.75 billion for the period.

The property’s full-year results were included in the update on its December business performance. Okada Manila’s GGR for the month stood at PHP2.52 billion, while non-gaming revenue was PHP299 million – a new all-time monthly high for the property, according to the report. Okada Manila recorded EBITDA of PHP474.9 million for December, with the total monthly number of visitors to the property passing for the first time the half-million mark.

GGR for December at Okada Manila decreased by 13 percent compared to the previous month, due to “lower win rates” in all gaming segments – including VIP, mass table games and gaming machines – Universal Entertainment said. The firm however noted that VIP rolling, mass-table drop and gaming machine-handle volumes were all up in December as compared to the previous month.

Updates on Okada Manila’s monthly performance are a recent innovation. Universal Entertainment announced last October that it was changing the arrangements that govern its relations with investors. It said the reason was to keep them better informed.

The casino resort is at the heart of a tussle between the man it is named after, Japanese gaming veteran Kazuo Okada; and Universal Entertainment. The group’s ousted founder is trying to regain control of the company. He and it are in dispute – sometimes played out in public – about several aspects of how the group is or should be run.

On January 6, it was reported the Department of Justice of the Philippines had found cause to indict Mr Okada on three counts of swindling after he acquired “through mistake or fraud” US$3.15-million in salary and consultancy fees while he was heading Tiger Resort, Leisure and Entertainment.

Universal Entertainment has said Mr Okada’s legal issues will not affect its operations at Okada Manila.


  • tweet
Related articles
  • Okada Manila control dispute back in court: Universal
    Okada Manila control dispute back in...

    Jun 22, 2022  

  • Claimed bank freeze not hurt Okada Manila: Kazuo Okada
    Claimed bank freeze not hurt Okada...

    Jun 21, 2022  

More news
  • Moody’s revises SJM Holdings’ outlook to negative
    Moody’s revises SJM Holdings’...

    Jun 27, 2022  

  • MGM China gets deal for use of MGM brands renewed
    MGM China gets deal for use of MGM...

    Jun 27, 2022  


Latest News

Moody’s revises SJM Holdings’ outlook to negative

Moody’s revises SJM Holdings’ outlook to negative

Jun 27, 2022  

Moody’s Investors Service has confirmed Macau casino operator SJM Holdings Ltd’s ‘Ba3’ corporate family rating and the ‘B1’ rating on the backed senior unsecured bonds issued by...
Read More
MGM China gets deal for use of MGM brands renewed

MGM China gets deal for use of MGM brands renewed

Jun 27, 2022  

SJM to make 2nd of pledged staff subsidy payments for 2022

SJM to make 2nd of pledged staff subsidy payments for 2022

Jun 27, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


357

The aggregate number – as of end of Sunday – of confirmed infections in Macau linked to the most serious Covid-19 outbreak impacting the city since the start of the pandemic in 2020



Most Popular

  • SJM to make 2nd of pledged staff subsidy payments for 2022SJM to make 2nd of pledged staff subsidy payments for 2022 June 27, 2022
  • Maybe new Macau mass Covid test, community spread stillMaybe new Macau mass Covid test, community spread still June 24, 2022
  • Parisian quarantine hotel as Macau Covid cases near 360Parisian quarantine hotel as Macau Covid cases near 360 June 27, 2022
  • Covid-19 test certificate to enter Macau casinosCovid-19 test certificate to enter Macau casinos June 27, 2022
  • Blackstone clinches US$6.15bln takeover of Crown ResortsBlackstone clinches US$6.15bln takeover of Crown Resorts June 24, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us