Okada Manila sees strong surge in 2Q23

Okada Manila operator Universal Entertainment has reported that the property attained US$207.56m in gross gaming revenue during the second quarter of the year, a 36.12 per cent increase from last year.

Adjusted segment EBITDA rose by 39.9 per cent to $56.25m. VIP play contributed strongly to the results, making up the majority of play results at $81.26m, up 36.44 per cent yearly.

Meanwhile, table games also saw a strong yearly increase, up by 40.11 per cent to $56.44m, even as gaming machine revenue topped out at $69.68m, up 32.69 per cent yearly.

During the period, the group also saw 1.42 million property visits, up 35.62 per cent, driving the hotel occupancy rate to 80.7 per cent, a slight drop from that seen in the same period of 2022, at 86.4 per cent.

Source: Asia Gaming Brief