Okada Manila maintains positive momentum in 1Q23 as GGR climbs to USD 209 M
Friday 14 de April 2023 / 12:00
⏱ 1 min read
(Manila).- Philippines integrated resort Okada Manila has continued its strong recovery trajectory into 2023, with gross gaming revenue reaching Php11.6 billion (US$209 million) for the three months to 31 March, up 97.0% year-on-year and 10.2% higher than the December 2022 quarter.
The impressive Q1 result came on the back of increases across all gaming segments, with mass table game GGR up 106% year-on-year to Php3.16 billion (US$57 million) and gaming machine GGR rising by 100% to Php3.91 billion (US$71 million). VIP table games revenue also grew by 77.5% to Php4.51 billion (US$81 million).
With “other revenue” rising by 178% year-on-year to Php1.04 billion (US$19 million), Okada Manila saw total property revenue just about double compared with the same period in 2022 to Php12.6 billion (US$228 million).
Adjusted EBITDA of Php3.33 billion (US$60 million) was up 189% year-on-year, according to information from Okada Manila operator Tiger Resort, Leisure and Entertainment Inc – aided by almost 1.5 million property visitors during the quarter.
Okada Manila previously reported an 81.5% increase in GGR in 2022 to Php34.3 billion (US$629 million) with Adjusted Segment EBITDA up 263% to Php8.61 billion (US$158 million).
Philippines gaming has been on the rise for some time now, with gaming regulator PAGCOR recently revealing that industry-wide GGR reached six consecutive quarters of consecutive increases.
The upward trend follows the easing of COVID-19 restrictions as of late 2021, with authorities subsequently reopening the nation’s borders to international tourists in February 2022, easing capacity restrictions in March 2022 and dropping all lockdowns in April 2022.
Categoría:Casino
Tags: casino,
País: Philippines
Región: Asia
Event
GAT EXPO CARTAGENA 2026
24 de March 2026
GAT Expo Cartagena 2026 came to an end after a resounding success
(Cartagena de Indias).- With this closing, GAT Events continues its remarkable 2026 circuit with upcoming stops in Mexico City, São Paulo, San Juan, Bogotá and Santo Domingo, consolidating its presence as a B2B platform for the development of the legal gaming business in Latin America and the Caribbean.
Friday 27 Mar 2026 / 12:00
Latin American Regulators Unite to Tackle Illegal Gambling and Highlight Risks for Minors
(Cartagena de Indias, SoloAzar Exclusive).- At GAT Expo Cartagena 2026, Jesús Mariano Acevedo, President of LOTBA (Buenos Aires City Lottery), took part in the regulators’ panel where he analyzed online gaming challenges, the rise of illegal gambling, and the need for a joint strategy between the public and private sectors in the region.
Friday 27 Mar 2026 / 12:00
Nevada’s Regulatory Model Offers Key Lessons for Latin America at GAT Expo Cartagena 2026
(Cartagena de Indias, SoloAzar Exclusive).- During GAT Expo Cartagena 2026, SoloAzar provided exclusive on-site coverage of the international conference “Lessons from Nevada’s Regulatory Model for Latin America,” where Brian Krolicki, Vice Chairman of the Nevada Gaming Commission, delivered a comprehensive overview of regulatory best practices, emphasizing that “strong regulation is not the enemy of a successful gaming industry—it is the foundation that makes long-term growth possible.”
Thursday 26 Mar 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.