Okada Manila on the rise with positive EBITDA in June

Okada Manila

Tiger Resort, Leisure and Entertainment Inc (TRLEI), the operator of Okada Manila, reported an EBITDA loss of Php204 million (US$4.1 million) in 2Q21. However, it returned to profitability in June as COVID-19 restrictions eased across Manila.

Casinos in Manila were forced to close in late March. It is because Philippines President Rodrigo Duterte had placed the city under the most strict Enhanced Community Quarantine (ECQ).

In late May, 13 hotels in Manila, including all four of the city’s integrated resorts opened at full capacity.

With business picking up, Okada Manila’s VIP segment led the way in Q2 with GGR of Php1.51 billion (US$30.1 million). This included Php837 million (US$16.7 million) in June. For the quarter, mass gaming revenue was Php526 million (US$10.5 million) while machine revenue was Php528 million (US$10.5 million).

 

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