Philippines integrated resort Okada Manila continued its recent decline in the three months to 31 March 2026, with gross gaming revenues falling 17.2% year-on-year to Php6.47 billion (US$108 million), according to information from operator Tiger Resort, Leisure and Entertainment Inc (TRLEI).
The Q1 result was, however, improved from GGR of Php5.93 billion (US$99.7 million) in the December quarter.
The decline was felt across the board, with VIP gaming revenues down 19.0% to Php1.44 billion (US$24.1 million), mass GGR down 24.2% to Php2.30 billion (US$38.5 million) and gaming machine GGR down 8.9% to Php2.73 billion (US$45.7 million).
Adjusted Property EBITDA also dropped by 53.3% to Php830 million (US$13.9 million).
Okada Manila previously reported total GGR of Php27.8 billion (US$467 million) in FY25, down 20.1% year-on-year, including a 44.3% decline in VIP table games GGR to Php6.19 billion (US$104 million).
Manila’s integrated resort operators have been challenged by a significant drop in visitation from its two key source markets – South Korea and China – over the past year, while the ban on the offshore POGO industry has heavily impacted the VIP segment.
The company recently saw long-time President and COO Byron Yip depart, replaced by parent company Universal Entertainment Corp’s Nobuki Sato.
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