Home South East Asia
South East Asia
It’s unlikely that Japan’s Universal Entertainment will take over Genting Malaysia’s stalled theme park project, as it would likely cause cannibalization from their sister resort in Singapore, Maybank said in a note.
Universal Entertainment released financial figures showing that casino revenues at Okada Manila reached a record-high PHP2.9 billion ($55.1 million) in November, combined with a record-high EBITDA of almost PHP528 million pesos ($10 million) during the same period.
Genting Singapore is facing increasing competition in the mass market from the Philippines and Cambodia, though management sees room for growth in VIP, according to Nomura.