Philippines – GGR fell by 42% during Okada Manila’s first quarter

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on email
Philippines

Universal Entertainment stated that Tiger Resort Leisure & Entertainment, the operator of the Philippines integrated resort Okada Manila, saw a 35% year-on-year drop in EBITDA. It was down to Php69m(US$14.3m) in the first quarter of 2021. It was due to the COVID-19 pandemic.

Universal said: “Tiger Resort Leisure & Entertainment submitted gross gaming revenue of 5,098m Philippine pesos and other revenue of 188m pesos for FY2021 1Q. Total revenue fell 42% (3,820 million pesos) year over year to 5,286 million pesos, and adjusted segment EBITDA fell 35% (377 million pesos) to 692 million pesos.

In the first quarter, VIP table games revenue fell 49% year on year to Php2.33 billion (US$48.2 million). And, mass table revenue fell 49.3% to Php861 million (US$17.8 million). Revenue from slot machines fell by only 19.4%. In the first quarter, attendance dropped to around 572,000, with a 74% hotel occupancy rate compared to 91.4% in 2020.

Manila’s casinos are currently closed and will be until the end of April at the earliest.

Categories:

Tags:

Share:

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on email
Email
Nassima Azmzm

Nassima Azmzm

Leave a Comment

0 responses on "Philippines – GGR fell by 42% during Okada Manila’s first quarter"

Leave a Message



Qasiknow.com is born out of the necessity of sharing information and knowledge with everyone in the gaming industry who is interested in learning, growing, discovering different points of view and ways of doing things.

Upcoming Events

top
Copyright ©️ Qasiknow.com | All rights reserved.
X