Okada Manila operator Tiger Resort, Leisure and Entertainment Inc (TRLEI) reported gross gaming revenues of Php8.98 billion (US$153 million) in the three months to 31 December 2024, down 3.7% year-on-year but 9.1% higher than the September quarter.
The year-on-year decline was mainly a result of the VIP table games segment, which saw GGR fall by 9.4% to Php3.15 billion (US$53.6 million). This was, however, some 27.5% higher than in 3Q24.
Mass table games showed slight year-on-year and sequential improvement to Php2.56 billion (US$43.6 million), while gaming machine revenue was down slightly both year-on-year and quarter-on-quarter to Php3.27 billion (US$55.7 million).
Adjusted segment EBITDA fell by 10.2% year-on-year but more than doubled quarter-on-quarter to Php2.10 billion (US$35.7 million). TRLEI said there were more than 1.71 million visitors to Okada Manila in Q4 compared with just over 1.60 million a year earlier.
For FY24, GGR fell by 21.8% to Php34.8 billion (US$592 million) while Adjusted segment EBITDA was down 37.7% to Php7.66 billion (US$130 million).
The Manila casino market continues to be negatively impacted by a decline in the VIP segment, particularly in regard to the once string Chinese customer segment.
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