Tag Archives: Okada Manila
Philippines – Okada Manila’s GGR jumps 73 per cent in February
2019 has been quite a year so for Universal Entertainment in the Philippines with its Okada Manila casino recording GGR of PHP 2,378 m (US$45.2m) in February, up 73 per cent year-on-year. This follows on from January’s GGR being up by 134 per cent. The operator said: “In addition to February being three days shorter…
Philippines – New Year sees another record month at Okada Manila
January produced another record month of revenue at Okada Manila in the Philippines with GGR increasing 134 per cent year-on-year to Php3.84bn (US$73.7m). The casino also recorded its best ever Adjusted segment EBITDA which in January increased by 683 per cent to Php565.9m It was also a huge jump from just a month earlier with…
Philippines – Universal raises $600m as Okada Manila records best ever month
Japan’s Universal Entertainment has managed to raise US$600m through the placement of privately held notes, with the money being used to complete Okada Manila, its Philippine casino resort, and to pay off debt. The notes were issued on December 11 2018 and will mature on the same date in 2021. The news came as the…
Philippines – Okada Manila could ‘establish itself as a leading integrated resort’
Fitch Ratings believes that Okada Manila, the Philippine Integrated Resort owned by Japan-based Universal Entertainment, could become one of the leading casinos in Asia issuing it with a Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘B+’ with a Stable Outlook. Mass-market operations began in early 2017 and should benefit from the casino’s dominant scale, with…
Philippines – Okada Manila beats its personal best with October’s GGR
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…
Philippines – Universal to float Okada Manila’s owner in 2019
Universal Entertainment Group will float Tiger Resort, Leisure and Entertainment Inc. (TRLEI), the company behind its Okada Manila in the Philippines, next year, as it looks to speed up growth and raise its brand. The decision was confirmed briefly in Universal’s latest set of results which saw first half profits increase to JPY 172.5bn(US$1.6bn) up…
Philippines – Kazuo Okada not yet cleared of perjury and fraud in the Philippines
The Philippines’ Department of Justice has initiated an investigation into the Paranaque City prosecutor who cleared Kazuo Okada of charges of fraud brought against him by Tiger Resort Leisure and Entertainment, a subsidiary of Universal, the company founder by Mr. Okada. Philippine Justice Secretary Menardo Guevara said that Paranaque City Prosecutor Amerhassan Paudac will be…
Philippines – FSB partners with Paddy Power to launch sportsbook for Okada Manila
Platform provider FSB has announced a deal to roll-out its first EPOS system in association with Paddy Power and Asian supplier Jade Entertainment and Gaming Technologies. FSB will deploy its innovative platform and trading tools alongside the Irish bookmaker’s trading team in order to provide over the counter sports betting facilities to customers of Manila’s…
Philippines – Okada Manila to increase market share
Okada Manila will increase its market share of the casino sector in the Philippines according to Morgan Stanley Asia. It is tipping Okada Manila’s share of Manila’s integrated resort GGR to increase from 10 per cent to 22 per cent in 2018 with Resorts World Manila’s falling from 15 per cent to 13 per cent,…
