Saturday, July 02, 2022

Okada Manila revenue soars 76 percent year-on-year in December

Universal Entertainment has announced that its Okada Manila resort took in nearly P5 billion (US$100 million) in revenues in December 2019, which was a 76 percent jump over the previous year’s figure.

While all segments posted year-on-year revenue gains, it was the VIP table games win that led the charge with growth north of 150 percent, tracking above analyst expectations, according to Union Gaming. 

Mass table win increased 45 percent year-on-year in December,  whilst the slots handle increased 27 percent year-on-year in December. 

“The better-than-expected results in mass were a function of management pausing room work in Tower B in order to maximize revenue during the peak holiday season. This is encouraging as it helps prove the hotel room thesis as a revenue driver for the mass segment.”

EBITDA also advanced 127 percent to over P1 billion.

Tiger Resort Leisure & Entertainment is the operating company for Okada Manila.

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