Universal Entertainment Corp reported gross gaming revenue of Php3.86 billion, a year-on-year increase of 72%, and Adjusted EBITDA of Php754 million, up 254%, at its Philippines integrated resort Okada Manila in August.
In its monthly results announcement issued Wednesday, Universal said the increase in GGR was due to increased mass market volumes and a high VIP win rate, although in reality it was the VIP segment that was primarily behind the strong growth.
VIP rolling chip volume climbed 33.3% year-on-year in August to Php41.79 billion, with a well above market average 4.68% win rate seeing revenue soar 148% to Php1.96 billion.
Mass table drop for the period grew 14.8% to Php1.76 billion with revenue up by Php200 million to Php917 million, while gaming machine revenue also climbed significantly to Php984 million.
Okada Manila is operated by Universal Entertainment subsidiary, Tiger Resort, Leisure & Entertainment, Inc.
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