Operator News
Philippines – Okada Manila beats its personal best with October’s GGR
By Phil - 20 November 2018
Okada Manila has reached record levels of revenue in October with revenue increasing across all segments of its business from VIP and mass market table to slots.
Its owners Universal Entertainment said GGR for the month came in at a record P2.67bn ($50.6m) in October with record Ebitda of P370.6m. It outlined that newly signed junket deals drove VIP growth whilst newly deployed marketing drove traffic in the mass market. VIP tables accounted for P1.25bn, mass tables for P$1.53bn and slots for P10.3bn.
Universal stated: “The adjusted segment EBITDA of October reached an all-time high. Excluding the result of May 2018 which was driven by onetime temporary spike due to junket grand opening events, the gross gaming revenue of October also reached an all-time high. The gross gaming revenue increased by higher win rates in all segments of VIP, mass market table games and gaming machine, associated with additional revenue contribution by new contracted junkets in VIP table games and mass marketing initiatives. The adjusted segment EBITDA increased sharply driven not only by revenue increase but also by increased proportion of higher margin mass market revenue, more favourable junket agreements and reduced fixed cost ratio.”
The hotel business continuously kept high average daily room rate of 9,241 pesos and occupancy rate of 97.7 per cent in October 2018.
