Byron Yip will step down as President and COO of Okada Manila operator Tiger Resort, Leisure and Entertainment, Inc (TRLEI) after seven years in the job, to be replaced by parent company Universal Entertainment Corp’s Nobuki Sato, the company has announced. Sato, who will assume his new position from 15 September, is currently Universal’s Senior Executive Officer and Chief Financial Officer.
According to a statement issued Thursday, Yip is departing Okada Manila to “embark on the next chapter of his career” but will continue to oversee daily operations and support the leadership transition through September.
“Byron Yip’s leadership has been instrumental in establishing Okada Manila as a leading destination in the region, exemplified by our achievement of the Forbes 5-Star rating – the largest Forbes 5-star Integrated Resort in the Philippines to receive this distinction for the sixth consecutive year – and the successful execution of key expansion initiatives,” said Tomohiro Okada, Representative Director and President of Universal Entertainment Corporation.
“We extend our heartfelt appreciation for Byron’s contributions and are pleased that he will continue to support the organization to ensure a seamless transition. We are confident that Nobuki Sato’s proven expertise in operational and financial management will guide Okada Manila into its next phase of strategic growth and innovation.”
Sato has sat on the TRLEI Board of Directors since March 2023 and brings over 20 years of leadership experience in hospitality, finance and strategic operations, Universal explained.
Yip’s departure, meanwhile, comes at a challenging time for Manila’s land-based casino industry given the decline in VIP play following the nationwide ban on POGOs and a substantial drop in visitation from South Korea and China this year.
TRLEI last month reported a 19.6% year-on-year and 9.1% quarter-on-quarter fall in gross gaming revenues to Php7.10 billion (US$125 million) in 1Q25.
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