• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Monday 15 September 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
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
No Result
View All Result
IAG
No Result
View All Result

Okada Manila parent Universal says decline in junket business negatively impacting Philippine casino market as sales, profit fall in 1H24

Newsdesk by Newsdesk
Sun 11 Aug 2024 at 13:42
VIP drives 38.2% year-on-year GGR growth at Okada Manila in February
232
SHARES
5.8k
VIEWS
Print Friendly, PDF & Email

Japan’s Universal Entertainment Corp has pointed to a slowdown in the junket business as having negatively impacted the Philippines casino business after reporting a decline in group-wide sales and profit for the first half of 2024. The company also suffered a decline in its pachinko or “Amusement Equipments Business”.

Universal is the parent company of Okada Manila, located in Manila’s Entertainment City precinct in Parañaque.

In a filing, the company noted that the second quarter performance of Okada Manila had, much like the first quarter, been down from a year earlier, stating, “The number of VIP guests at Okada Manila continued to decline as the slowdown of the junket business negatively affected the overall market conditions for the casino business in the Philippines.

“Although the performance of the mass market and gaming machine sectors was down from one year earlier when demand rebounded following the pandemic, sales are increasing steadily in comparison with the pre-pandemic peak sales of this business in 2019. In the hotel and food and beverage businesses, the number of guests is consistently high.”

Universal said Okada Manila had posted net sales of JPY41.7 billion (US$284 million) in the first six months of 2024, down 13.1% year-on-year, with operating profit down 55.1% to JPY3.28 billion (US$22.4 million) and Adjusted Segment EBITDA down 22.3% to JPY11.7 billion (US$79.8 million).

In the “Amusement Equipments Business”, sales fell by 32.6% to JPY20.8 billion (US$142 million) with operating profit down 51.1% to JPY3.76 billion (US$25.6 million).

Pachislot continued to outperform pachinko, the company explained, stating, “The business climate for pachislot machines is good because of the consistently strong performance of smart pachislot machines, which are meeting the expectations of pachinko hall operators.

“In the pachinko sector, deliveries of machines with a lucky trigger function, which allows players to win more balls, have started. Sales of these machines are currently somewhat slow in comparison with the strong sales in the pachislot category.”

Group-wide, sales fell by 20.7% to JPY62.9 billion (US$429 million) with net income attributable to owners of parent down 97.5% to JPY525 million (US$3.6 million).

RelatedPosts

IAG EXPO: Interview with Light & Wonder’s Jamie Dorbian

IAG EXPO: Interview with Light & Wonder’s Jamie Dorbian

Sun 14 Sep 2025 at 17:33
IAG EXPO 2025: Interview with Paul Heretakis

IAG EXPO 2025: Interview with Paul Heretakis

Thu 11 Sep 2025 at 21:35
Winds of change

Bloomberry Cultural Foundation Inc’s Medical Scholarship Program produces initial 20 nursing graduates

Thu 11 Sep 2025 at 16:18
As sector grows, industry warns that tightening of Philippines eGames regulations threatens to remove all incentives for operators to remain licensed

As sector grows, industry warns that tightening of Philippines eGames regulations threatens to remove all incentives for operators to remain licensed

Thu 11 Sep 2025 at 11:46
Load More
Tags: junketOkada ManilapachinkoPhilippinessalesUniversal Entertainment CorpVIP
Share93Share16
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Evolution Asia
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
NWR

Related Posts

Corona shines

Vietnam’s Corona Resort & Casino falls to US$21 million loss in 1H25, wider than previously

by Newsdesk
Sun 14 Sep 2025 at 18:13

Vietnam’s Corona Resort & Casino in Phu Quoc, which earlier this year wrapped up a pilot program for locals gambling on its property, fell to a VND564 billion (US$21.4 million) loss for the six months to 30 June 2025 –...

IAG EXPO: Interview with Light & Wonder’s Jamie Dorbian

IAG EXPO: Interview with Light & Wonder’s Jamie Dorbian

by Newsdesk
Sun 14 Sep 2025 at 17:33

Light & Wonder's Managing Director, International, Jamie Dorbian, discusses the array of products the company displayed at IAG EXPO and how it views the importance of Asia in its global strategy.

Macau’s concessionaires could soon turn to virtual performers to keep pace with rising competition in global entertainment scene

Macau’s concessionaires could soon turn to virtual performers to keep pace with rising competition in global entertainment scene

by Ben Blaschke
Sun 14 Sep 2025 at 14:24

Macau’s concessionaires could soon turn to digital pop stars and virtual performers to satisfy the needs of the city’s burgeoning entertainment scene. David Baxley, long-time Regional Vice President for Sands China and Marina Bay Sands, explained during a panel session...

Entain Australia and New Zealand CEO Andrew Vouris announced as Featured Speaker at Regulating the Game 2026

Entain Australia and New Zealand CEO Andrew Vouris announced as Featured Speaker at Regulating the Game 2026

by Newsdesk
Sun 14 Sep 2025 at 11:33

Leading gaming law and regulation conference Regulating the Game has announced the newly appointed CEO of Entain Australia and New Zealand as its first Featured Speaker for its March 2026 event in Sydney. The conference is scheduled to take place...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

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

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
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English