Tiger Resort, Leisure & Entertainment, Inc, the operating company of Philippines integrated resort Okada Manila, reported a 29% increase in gross gaming revenue to Php3.76 billion (US$74.1 million) in November, driven by strong increases across all gaming segments.
According to figures released by parent company Universal Entertainment Corp, VIP turnover soared by 86.5% to Php66.80 billion (US$1.32 billion) for the month, although VIP revenue of Php1.89 billion (US$37.3 million) was impacted by a sharp decline in win rate from 4.06% in November 2018 to 2.82% this time around.
Mass table drop grew 9.4% to Php1.67 billion with win up 15.9% to Php884 million (US$17.4 million) while slot machine handle rose 45.7% to Php16.02 billion for win of Php993 million (US$19.6 million).
Adjusted segment EBITDA increased 33% to Php174 million.
November also saw Okada Manila enjoy record monthly visitation of 542,158 due to the ongoing ramp of the property and opening of more rooms. The company is expecting to open the remainder of its rooms in 1Q20, lifting its total hotel room inventory to almost 1,000.
GGR at Okada Manila through the first 11 months of 2019 sits at Php35.16 billion, a year-on-year increase of 42.4%.
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