• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Tuesday 1 July 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Universal revises down 2020 forecast on Okada Manila closure, anticipates further two-week quarantine extension

Ben Blaschke by Ben Blaschke
Thu 16 Apr 2020 at 05:50
Power Play
69
SHARES
1.6k
VIEWS
Print Friendly, PDF & Email

Japan’s Universal Entertainment Corp says it expects to suffer an estimated 18.8% decline in net income on a 7.9% fall in sales for the fiscal year ending 31 December 2020, driven by the closure of its Philippines integrate resort, Okada Manila, due to COVID-19.

Providing an update to its business results forecast for the year overnight, Universal said it has revised down its sales expectations from JPY 190 billion to JPY 175 billion (US$1.63 billion), and its net income from JPY 32 billion to JPY 26 billion (US$242 million). The impact has been slightly negated by the company’s amusement equipment business in Japan which it says is currently at a level exceeding its original sales plan.

Notably, Universal said it expects the Philippines government to issue a further two-week extension to casino closures, until mid-May, taking the total closure period of Okada Manila to two months. The government ordered the closure of all non-essential services, including casinos, from 15 March to 12 April – later extended to 30 April.

The company is estimating 2020 net sales at Okada Manila to total JPY 40 billion (US$372.5 million) with an ordinary income of JPY 3 billion (US$27.9 million).

Universal’s revised forecast followed release of Okada Manila’s financial results for the month of March, which saw gross gaming revenue decline 54.0% year-on-year to Php1.52 billion (US$30 million) and Adjusted segment EBITDA from Php509 million to a loss of Php248 million.

The mass gaming floor was hardest hit, plummeting 66.1% to Php242 million (US$4.8 million) with slot machine revenue down 53.5% to Php424 million (US$8.4 million).

VIP GGR fell 49.3% to Php849 million (US$16.8 million).

RelatedPosts

PAGCOR donates US$888 million to Bureau of Immigration to help fund deportation of former POGO workers

PAGCOR donates US$888 million to Bureau of Immigration to help fund deportation of former POGO workers

Tue 1 Jul 2025 at 08:54
Cebu’s NUSTAR Hotel makes immediate mark by entering Michelin Guide Hotel List

Cebu’s NUSTAR Hotel makes immediate mark by entering Michelin Guide Hotel List

Mon 30 Jun 2025 at 14:04
SM Prime Holdings to expand Philippines MICE offering in Cebu and Manila

SM Prime Holdings to expand Philippines MICE offering in Cebu and Manila

Sun 29 Jun 2025 at 17:45
Melco awarded 20-year license to operate City of Dreams Sri Lanka

Melco’s City of Dreams Sri Lanka casino and hotel to open on 2 August

Sun 29 Jun 2025 at 08:57
Load More
Tags: casinoGGRgross gaming revenueJapanManilaMass marketOkada ManilaPhilippinesUniversal Entertainment CorpVIP
Share31Share4
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

PAGCOR donates US$888 million to Bureau of Immigration to help fund deportation of former POGO workers

PAGCOR donates US$888 million to Bureau of Immigration to help fund deportation of former POGO workers

by Newsdesk
Tue 1 Jul 2025 at 08:54

Philippine gaming regulator PAGCOR has approved a Php50 million (US$888 million) grant to the Bureau of Immigration (BI) to fund the ongoing deportation of foreign workers previously employed by illegal offshore gaming operators, or POGOs, it revealed Tuesday. In a...

Global operators asked to register interest as New Zealand moves forward with online gambling regulation

New Zealand introduces Online Casino Gambling Bill to parliament

by Newsdesk
Tue 1 Jul 2025 at 06:14

New Zealand’s Minister of Internal Affairs Brooke van Velden has officially introduced the country’s Online Casino Gambling Bill to the House of Representatives. The bill, which aims to regulate New Zealand’s online gambling market by offering up to 15 licenses...

Genting Malaysia’s New York subsidiaries price an additional US$100 million senior notes as equity raising continues

Genting Malaysia says full casino operations could be launched within six months if New York bid successful

by Ben Blaschke
Tue 1 Jul 2025 at 06:11

Genting Malaysia said Monday that it could launch table game and complete slot machine operations at its New York casino, Resorts World New York City (RWNYC), should it win one of three full casino licenses on offer in New York....

Konami Gaming promotes Tom Jingoli to President and COO, now also Managing Director of Konami Gaming Australia

Konami Gaming promotes Tom Jingoli to President and COO, now also Managing Director of Konami Gaming Australia

by Newsdesk
Tue 1 Jul 2025 at 06:08

Japanese gaming supplier Konami Gaming, Inc has announced the promotion of long-time executive Tom Jingoli to President and COO of the company, as well as Managing Director of subsidiary Konami Gaming Australia Pty Ltd. Steve Sutherland, CEO of Konami Gaming...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語