Okada Manila operator Tiger Resort, Leisure & Entertainment Inc (TRLEI) has reported gross gaming revenue of Php6.02 billion (US$115.5 million) in the three months to 31 March 2022, up 17.6% year-on-year but down on the Php7.01 billion (US$137.4 million) achieved in 4Q21.
The results included a 19.9% increase in VIP table games revenue to Php2.54 billion (US$48.7 million), 39.6% increase in mass table games revenue to Php1.53 billion (US$29.4 million) and 2.5% increase in gaming machine revenue to Php1.95 billion (US$37.4 million).
Adjusted Segment EBITDA grew 66.3% year-on-year to Php1.15 billion (US$22.1 million) – slightly down on the Php1.37 billion (US$26.9 million) achieved in the December 2021 quarter.
Although both GGR and Adjusted EBITDA were lower sequentially, they were still considerably higher than 3Q21 when Okada Manila recorded GGR of Php4.17 billion (US$82.3 million) and EBITDA of Php443 million (US$8.7 million).
TRLEI said it welcomed 707,459 visitors to Okada Manila in 1Q22, up from 572,451 during the same period last year.
Casinos in Manila were granted permission to reopen to the public in mid-October with some capacity restrictions, having been closed for much of 3Q21. The Philippines has since dropped most international border restrictions for fully vaccinated tourists and removed capacity constraints on entertainment venues.
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