Casino gross gaming revenue (GGR) at Philippine capital Okada Manila Casino Resort (pictured) fell 21.8% year-over-year in the second quarter, publicist Tiger Resort, Leisure and Entertainment Inc. filed on Friday.
Such a GGR for the three months to June 30 was just under 8.84 billion ($151.3 billion) compared to a PHP of 11.29 billion in the previous year. Results were slightly higher sequentially compared to a PHP of 8.78 billion in the January-March period.
According to the company’s release, Okada Manila’s quarterly GGR has been decreasing year-over-year since the end of the third quarter of last year. After registering a 29.7% year-over-year GGR growth during the July-September period of 2023, the company recorded 11.2% and 24.1% year-over-year declines in the fourth quarter of 2023 and the first quarter of 2024, respectively.
Okada Manila recorded a PHP of 17.61 billion GGR in the first half of 2024, down 23.0% year-over-year.
The second-quarter GGR tally showed VIP sales down 34.5% year-over-year to 2.9 billion PHP. However, VIP sales were up 12.2% quarter-over-quarter.
In the three months to June 30, sales at the public market table were 2.97 billion PHP, down 3.4% from a year earlier and flat compared to the previous quarter.
Game consoles posted $2.97 billion in revenue, down 21.8% from a year ago and down 8.2% sequentially.
Non-gaming sales rose 9.7% year-over-year to about 1 billion PHP in the second quarter, up 3.4% quarter-over-quarter.
Okada Manila’s operating profit before interest, taxation, depreciation and amortisation (EBITDA) fell 30.0% year-on-year to 2.15 billion pounds in the second quarter. Those results were down 8.0% sequentially.
Okada Manila received nearly 1.45 million visitors in the second quarter. That’s an increase of about 25,000 visitors year-over-year. The property had about 1.46 million visitors in the first quarter of 2024.
Tiger Resorts is a subsidiary of Universal Entertainment, a large Japanese company.
Earlier this month, Tiger Resorts announced the termination of its contract with PH Resorts Group Holdings, Inc., which will see the Okada Manila operator invest in its Emerald Bay casino resort business in Maktan, Cebu.
BY: 파워볼사이트