Lower VIP turnover, combined with bad luck in the segment, saw Philippines integrated resort Okada Manila’s gross gaming revenue fall 5% year-on-year in May to Php2.64 billion (US$50.8 million).
According to a monthly update from operator Tiger Resort, Leisure and Entertainment Inc, VIP turnover for the period fell 11.5% to Php44.91 billion (US$865 million), but a win rate of 2.31% – down from 3.28% in May 2018 – resulted in a 37.7% decline in VIP revenue to Php1.04 billion (US$20 million). The may results went very much against the grain of late, with Okada Manila enjoying a 53.9% surge in VIP GGR through the first five months of 2019.
While May proved slower in the premium segment, mass revenue continued to head north with mass table revenue up 36.0% to Php780 million (US$15 million) and slot machine revenue up 38.5% to Php828 million.
Non-gaming revenue rose slightly to Php179 million, helping Adjusted segment EBITDA grow 126% to Php369 million (US$7.1 million).