Okada Sept. GGR jumps 29.5%

Okada Manila
Okada Manila

Okada Manila saw gross gambling revenue rise 29.5 percent in September, with strong gains from both the VIP and mass market segment.

Parent company Universal Entertainment reports monthly figures for its Tiger Resort, Leisure and Entertainment unit, the operator of Okada Manila. Total GGR was P3.16 billion ($61.2 million) in the month, up from P2.43 billion a year earlier.

VIP table games revenue gained 19.6 percent to P1.48 billion from the same month last year, while mass table revenue rose almost 50 percent to P515 million. The VIP win rate was lower at 2.85 percent compared with 3.68 percent a year ago. Mass win was higher at 48.7 percent compared with 35.2 percent.

The company also reported a strong performance non-gaming revenue, which gained 37 percent to P206 million. Hotel occupancy topped 99 percent. 

Adjusted segment EBITDA was P554 million compared with P162 million a year earlier.

Universal said for the nine-months to end Sept. total GGR had reached P29.7 billion. 

Okada Manila, which was the last IR to open in Entertainment City in December 2016, was operating 188 VIP tables and 207 mass tables at the end of the month.