Okada Manila numbers soar in July, more hotel rooms set to open

by Administrator

Okada Manila operator Tiger Resort, Leisure and Entertainment Inc (TRLEI) posted a 48% year-on-year increase in gross gaming revenue and 212% increase in adjusted segment EBITDA in July with strong growth across all segments, according to parent company Universal Entertainment.

GGR for the month was Php3.27 billion (US$62.7 million), with VIP turnover up 26.3% and revenue by 50.2% to Php1.44 billion (US$27.6 million). Mass table drop grew 21.7%, with revenue rising 51.4% to Php825 million (US$15.8 million), while slot revenue also enjoyed a 38.6% increase to Php999 million. Adjusted segment EBITDA reached Php562 million in July.

July’s results, which saw consolidated revenue at Okada Manila reach Php3.50 billion, was the second strongest month on record at Okada Manila.

Universal also said it is expecting further growth in the coming months as it prepares to bring more hotel rooms online at Okada Manila. The company revealed that “a number of rooms within Coral Wing (Tower B) have started simulations and are now in operation” which will “further strengthen the ability to attract more customers.”

https://www.asgam.com/index.php/2019/08/13/okada-manila-numbers-soar-in-july-more-hotel-rooms-set-to-open/