Okada Manila VIP Revenue Falls 37.7% in May

Philippines IR Okada Manila saw gross gaming revenue fall 6.7% year-on-year in May, due mainly to a sharp fall in VIP table game revenue.

According to a filing from Tiger Resort Leisure and Entertainment, which operates Okada Manila, gross gaming revenue totaled 2.6 billion pisos (about US$49 million) in May. VIP table games revenue fell 37.7% in the month to 1.1 billion pisos (about US$21 million).

This was slightly offset by an increase in revenue from mass table games and gaming machine revenue, which rose 36.4% and 38.5% respectively.

Non-gaming revenue increased slightly to 179 million pisos (about US$3 million), and adjusted EBITDA increased 126% in the month to 369 million pisos (about US$7 million). (AGB)