The Okada Manila casino resort in the Philippine capital recorded casino gross gaming revenue (GGR) of just under PHP6.47 billion (US$108.1 million) in the first quarter of 2026, representing a 17.2 percent decline year-on-year.
That is according to a Tuesday filing by the property’s promoter, Tiger Resort, Leisure and Entertainment Inc.
The decline in first-quarter GGR followed a 34.0 percent year-on-year decrease recorded by Okada Manila in the fourth quarter of last year. For full-year 2025, GGR at Okada Manila stood at nearly PHP27.81 billion, down 20.1 percent from the previous year.
The lacklustre GGR performance of Okada Manila reflects a challenging business environment for land-based casinos in the Philippines, with earnings declines recorded last year, according to information previously disclosed by the country’s regulator.
Okada Manila’s first-quarter GGR was however up 9.1 percent compared with the fourth quarter of 2025.
Adjusted segmental earnings before interest, taxation, depreciation and amortisation (EBITDA) for Okada Manila stood at about PHP830 million in the first three months of 2026, down 53.3 percent compared with the PHP1.78 billion achieved in the prior-year period, data published on Tuesday showed.
The first-quarter result included a 19.0 percent year-on-year fall in VIP revenue, to approximately PHP1.44 billion.
Revenue from mass-market tables in the three months to March 31 stood at PHP2.30 billion, 24.2 percent lower than a year earlier. Okada Manila’s gaming machines generated revenue of PHP2.73 billion, down 8.9 percent from the prior-year period.
Non-gaming revenue in the January-to-March period increased slightly, by 0.3 percent year-on-year, to PHP944 million.
The Tiger Resort entity is a unit of Japanese conglomerate Universal Entertainment Corp. The latter also manufactures pachinko and other amusement machines, mainly for the Japanese market.
It was announced last month that Tiger Resort and Philippines-listed gaming technology provider PhilWeb Corp had entered into a “strategic partnership” to launch a “comprehensive” online gaming platform under the brand “Okada Play”. PhilWeb said it would include “a full suite of gaming content, platform technology, customer service infrastructure, and marketing support”.
In February, Universal Entertainment stated that the room renovation programme at the Pearl Wing of Okada Manila was continuing, with two additional floors scheduled for completion this year.
