Universal Entertainment, the operator of Manila’s integrated resort Okada Manila, has announced that its third-quarter results are down significantly, as VIP play drops.
According to the group’s most recent financials, total gross gaming revenue (GGR) during the third quarter totaled PHP6.97 billion ($120 million), down from PHP8.23 billion ($141.72 million) in the same quarter of last year.
This was prompted by a significant decline in VIP revenue, which totaled PHP1.46 billion ($25.14 million) during the quarter.
Other segments also saw drops, such as with gaming machines – which saw a fall from PHP3.3 billion ($56.71 million) to PHP3 billion ($51.56 million) year-on-year in gaming revenue during the third quarter.
Mass table games were slightly up, hitting PHP2.5 billion ($43 million), a rise from the PHP2.45 billion ($42.2 million) in the same quarter of 2024.
This comes as rolling chip for VIPs halved, hitting PHP40.69 billion ($699.26 million), down from PHP94.29 billion ($1.62 billion) in 3Q24, dropping overall revenue to PHP7.84 billion ($135 million) – a significant downturn year-on-year.
The property boasted a slight increase in hotel occupancy during the period, at 87 percent, with property visitors rising to 1.41 million during the quarter.
