The Japan-based operator of Okada Manila, Universal Entertainment, has reported a net loss of JPY7.56 billion ($51.53 million) for its fiscal year, due to a decrease in sales volume and drops in the VIP segment at the Manila IR due to a ‘decrease in the number of foreign guests’.
The group highlights that ‘the VIP rolling chip volume was down sharply and the decrease in the number of guests impacted the performance of both the mass gaming and the hotel and F&B categories’.
Net sales totaled JYP27.28 billion ($18.6 million), down by 20.8 percent yearly.
The group’s Amusement Equipments Business revenue fell by 36.9 percent yearly, to JPY8.75 billion ($59.6 million), with the business hoping for an uptick in the Pachislot market.
‘For the Pachinko sector, expectation for an upturn is emerging as the market diffusion of Pachinko machines with lucky trigger function which have richer game elements as well as smart Pachinko machines have been moving gently,’ notes the group.
Regarding its integrated resort, net sales were down by 9.8 percent yearly, to JPY18.37 billion ($12.52 million), with an operating profit falling by 81.3 percent yearly, to JPY331 million ($2.26 million).
The drop in VIP rolling chip volume ‘has continued since the last fiscal year’, notes the operator. ‘Gross gaming revenue from the gaming machine category also declined year on year due to the decrease in the number of the Philippines inbound visitors,’ notes Universal.
