Philippines integrated resort operator Tiger Resort, Leisure and Entertainment, Inc (TRLEI) has reported gross gaming revenue of Php2.38 billion (US$45.2 million) at Okada Manila in February, a year-on-year increase of 73% over the same month in 2018.
The increase included a 147.2% increase in VIP revenue to Php969 million (US$18.4 million), while mass table games grew 64.9% to Php699 million and gaming machines by 27.2% to Php710 million. Other revenue reached Php166 million, pushing property-wide revenue at Okada Manila to Php2.54 billion – up 70.7% year-on-year.
Adjusted segment EBITDA was Php361.2 million compared to a loss of Php181.5 million in February 2018.
The results did, however, represent a significant sequential decline on January 2019, when GGR reached a record Php3.84 billion.
“In addition to February being three days shorter than January, the decrease in gross gaming revenue in comparison to January 2019 was primarily due to the Chinese New Year holidays, particularly impacting VIP table games directly,” TRLEI said. “This was expected, however, and volumes in VIP rolling, mass table drop and gaming machine handle recovered for the latter half of the month.”