Okada Manila 1Q GGR 24pcty-y

Casino gross gaming revenue (GGR) at Philippine capital Okada Manila Casino Resort (pictured) fell 24.1% year-over-year, according to data from promoter Tiger Resort, Leisure and Entertainment Inc. on Monday.

Those GGRs for the three months ended March 31 were just $8.78 billion ($150.4 million), compared with $11.57 billion a year earlier. Results fell 5.8% sequentially.

The GGR tally for the first quarter showed VIP sales down 42.6% year-over-year to 2.59 billion PHP. VIP sales were down 25.7% quarter-over-quarter.

In the three months to March 31, revenue from the public market table was 2.96 billion PHP, down 6.3% year-on-year but up 16.9% quarter-on-quarter.

Game consoles posted 3.23 billion PHP in revenue, down 17.2% from a year ago, and fell 2.4% sequentially.

Q1 non-gaming revenue fell 6.5% year-over-year to approximately 971 million PHP, down 6.0% quarter-over-quarter.

Okada Manila's adjusted earnings (EBITDA) for the quarter before interest, taxation, depreciation and amortization (EBITDA) fell 29.9% year-over-year to 2.33 billion PHP. However, those revenues increased 2.5% sequentially.

Tiger Resorts is a subsidiary of Universal Entertainment, a large Japanese company.

For all of 2023, Okada Manila's GGR was nearly 44.54 billion PHP, up 29.7% year-over-year. Non-gaming sales rose 36.3% year-over-year to just under 3.9 billion PHP.

Adjusted Segment EBITDA increased 42.1% over 2022 last year to 12.22 billion PHP.

BY: 바카라사이트