Philippines integrated resort reported gross gaming revenue of Php3.29 billion (US$64.5 million) in February, a year-on-year increase of 38.2% on the back of strong VIP volume.
According to monthly data published by Okada Manila’s operating entity Tiger Resort, Leisure & Entertainment, Inc. (TRLEI), VIP rolling chip grew 90.2% compared with the same period in 2019 to Php55.83 billion, although GGR of Php1.74 billion (US$34.1 million) was impacted by a lower win rate.
Conversely, mass table drop fell 11.4% to Php1.28 billion with win down 13.7% to Php603 million (US$11.8 million). Gaming machine handle increased 54.1% to Php16.56 billion with win of Php941 million (US$18.4 million).
Notably, despite strong overall year-on-year growth, Okada Manila’s gaming revenue was down 14.3% versus January 2020 with reduced volume across all gaming segments.
Adjusted segment EBITDA for February was up 48% to Php536 million (US$10.5 million), with the company enjoying strong visitation to kick of 2020 with 982,459 property visitors in the first two months of the year compared with 907,814 during the same period in 2019.
TRLEI is yet to make any comment on the expected financial impact on its business after Philippines gaming regulator PAGCOR announced on Sunday that all casinos and gaming establishments in Manila would close for the duration of the social distancing measures announced by President Rodrigo Duterte last week.
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