Universal Entertainment Corp (UEC), the parent company of Okada Manila, has pointed to the recent return of marketing executive Shirley Tam and renovation works of some hotel rooms at the Philippines integrated resort as key initiatives in efforts to reverse its fortunes.
The update formed part of UEC’s financial results release for the nine months to 30 September, in which net sales grew very slightly year-on-year to JPY95.6 billion and net loss attributable to owners of parent narrowed by almost 50% to JPY10.6 billion.
The improvement, UEC said, was due to the performance of its amusement equipment business which saw expending penetration of smart Pachislot and smart Pachinko machines.
However, Okada Manila saw net sales fall 16.9% year-on-year to JPY50.6 billion and Adjusted EBITDA by 31.7% to JPY9.93 billion with an operating loss of JPY3.01 billion.
“In the gaming category, our gaming revenues of the VIP segment and the mass market segment declined year on year due to the overall market downturn in Entertainment City, compounded by the impact of inclement weather in September on guest visitation numbers. The hotel and F&B business also saw a decline in revenue,” UEC explained.
In an effort to improve performance, UEC said Okada Manila is “recruiting and training people to strengthen marketing capabilities in the gaming business.
“Well-admired casino marketing executive Shirley Tam re-joined to Okada Manila as Executive Vice President – Casino Marketing in September and has strengthened the casino marketing team with her leadership,” it stated. “Her team will implement more targeted and seasonal gaming promotions, aiming to stimulate demand aligned with our customer segment.
“In the non-gaming business, some Pearl Wing guest rooms are currently undergoing renovation, and we look forward to offering them to our guests before the holiday season. We will continue to enhance the overall appeal of our facilities by integrating both gaming and non-gaming operations.”
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