Okada Manila Opens New Rooms as July Revenue Jumps

Universal Entertainment said Okada Manila is opening more hotel rooms to accommodate visitors as its July revenue spiked 48% from the prior year.

Okada Manila had total revenue of 3.5 billion pisos (about US$67 million) for the month, while adjusted segment EBITDA surged to 562 million pisos (about US$11 million), Universal said in a statement to JASDAQ.

Gross gaming revenue rose to almost 3.3 billion pisos (about US$63 million). There was a 50% jump in VIP table games revenue, a 51% increase in mass revenue, and a 38% gain from electronic gaming machines.

Okada Manila opened in December 2016 and is the largest IR in Manila’s Entertainment City district, covering 44 hectares. Universal said several rooms in the Coral Wing (Tower B) were now in operation, which should enable it to attract more customers. It didn’t specify how many rooms it had added. (AGB)