Tiger Resort, Leisure & Entertainment Inc (TRLEI) has reported gross gaming revenue of Php7.01 billion (US$137.4 million) at its Philippines integrated resort Okada Manila in the three months to 31 December 2021, representing a 68.1% improvement over the third quarter.
It was also much better than the same period in 4Q20, when closures saw the casino generate zero gaming revenue, and pushed FY2021 GGR to Php18.92 billion (US$371.0 million) – up from Php15.33 billion (US$300.6 million) in 2020 but still less than half of the Php39.79 billion (US$780.2 million) recorded in 2019.
Adjusted Segment EBITDA tripled versus Q3 to Php1.37 billion (US$26.9 million), pushing FY21 EBITDA to Php2.31 billion (US$45.3 million) and reversing a FY20 EBITDA loss of Php1.26 billion (US$24.7 million).
VIP table games were the largest contributor to Okada Manila’s recovery, with GGR of Php3.77 billion (US$73.9 million) for the quarter and Php9.62 billion (US$188.6 million) for the year. Mass tables chipped in with GGR of Php1.34 billion (US$26.3 million) for the quarter and Php3.81 billion (US$74.7 million) for the year, while gaming machines contributed Php1.90 billion (US$37.3 million) and Php5.48 billion (US$107.4 million) respectively.
TRLEI said it welcomed 761,306 visitors to Okada Manila in 4Q21 and 1,846,031 across the year compared with 1,645,636 in 2020.
Casinos in Manila were granted permission to reopen to the public in mid-October with some capacity restrictions, having been closed for much of 3Q21.
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