Operator News

Philippines – Mass continues to drive rebound at Okada Manila

By Phil - 30 January 2023

The rebound in GGR has continued apace at Okada Manila with gaming revenues of US$193m for the three months to December 31 2022, marking an increase of 54.9 per cent on last year’s equivalent quarter and a 10.3 per cent increase from the previous quarter in 2022.

In a filing by its owner Tiger Resort, Leisure and Entertainment Inc (TRLEI) the rebound was driven by mass market gaming with mass tables up 25.3 per cent from last year reaching US$57m and slots up by 23.1 per cent to US$69m. Conversely, VIP table games dropped by 9.1 per cent to US$66m.

Other revenue, including hotel, food and beverage, retail and entertainment increased by more than 250 per cent year-on-year with a 10.6 increase on 2019’s figures.

Hotel occupancy came in at 82.1 per cent during 2022, compared to 75.4 per cent in 2021 and 98.1 per cent in 2019.

Attendance doubled from last year reaching 1,486,963 people with hotel occupancy coming in at 84.2 per cent.

For the full year in 2022, gaming revenues at Okada Manila increased by 81.5 per cent to US$629m.