Universal Entertainment said Okada Manila is opening more hotel rooms to accommodate visitors as its July revenue spiked 48 percent from the prior year.
Okada Manila had total revenue of PHP3.05 billion ($58.4 million) for the month, while adjusted segment EBITDA surged to PHP562 million from PHP180 million the prior year, Universal said in a statement to JASDAQ.
Gross gaming revenue rose to PHP3.26 billion from PHP2.22 billion in the same month last year. There was a 50 percent jump in VIP table games revenue, a 51 percent increase in mass revenue and a 38 percent gain from electronic gaming machines.
Okada Manila opened in December 2016 and is the largest IR in Manila’s Entertainment City district, covering 44 hectares. Universal said several rooms in the Coral Wing (Tower B) were now in operation, which should enable it to attract more customers. It didn’t specify how many rooms it had added.
Other revenue at the resort rose from PHP144 million to PHP241 million.
Universal reports monthly revenue figures for Okada Manila, which also all showed a gain from the prior month’s results.
Consolidation of the bases and advancement in adversity was the thrust of Macau Chief Executive’s policy address for 2021, though it gave little away when it came to the current pillar of the economy - the gaming industry.
Gaming suppliers, like all areas of the industry, have felt the pinch from the Covid-19 crisis, though their growing digital businesses have proved a bright spot and helped offset the impact of the crisis.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.