Okada Manila operator Tiger Resort, Leisure and Entertainment (TRLEI) saw an 11 percent drop in its 1Q25 gross gaming revenue (GGR) results, falling to PHP7.8 billion ($136.8 million), with drops in both gaming machine revenue and VIP table games.
On a sequential basis, GGR fell by 13 percent.
VIP rolling chip volume saw significant deterioration in the first quarter, tumbling by 43 percent yearly and 30.97 percent sequentially, to PHP53.07 ($930.26 million). Total revenue from the VIP segment amounted to PHP1.77 billion ($31.08 million) during the first quarter, down by 31.4 percent yearly and 43.8 percent quarter-to-quarter.
Gaming machine revenue was down by 7.43 percent yearly and 8.28 percent quarterly, topping out at just PHP2.99 billion ($52.44 million) in 1Q25.
Mass market table games actually saw improvement, up by 3.05 percent yearly and 19.2 percent quarterly, totaling PHP3.04 billion ($53.28 million).
Non-gaming revenue – encompassing hotel, F&B, retail, entertainment, and others – fell significantly from the previous quarter – down by 21.84 percent but a drop of only 3.1 percent yearly, hitting PHP941 million ($16.49 million).
The group saw adjusted property EBITDA in 1Q25 amount to PHP1.77 billion ($31.16 million), a yearly descent or 24 percent and a quarterly drop of 15.3 percent.
Hotel occupancy during the first quarter of 2025 was relatively stable, coming in at 82.9 percent, compared to 83.2 percent in 1Q25 and 84 percent in 4Q24.
