Okada Manila maintains positive momentum in 1Q23 as GGR climbs to USD 209 M
Friday 14 de April 2023 / 12:00
2 minutos de lectura
(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
G2E - Las Vegas 2025
06 de October 2025
CT Interactive on Innovation, Networking, and Market Growth at G2E 2025
(Las Vegas, SoloAzar Exclusive).- The global gaming industry marked G2E’s 25th anniversary with a major gathering in Las Vegas. CT Interactive stood out for its innovative product development and international growth strategy. Account Manager LATAM at CT Interactive, Roberto Muñoz, shared insights on G2E’s importance, emerging trends, and the company’s collaborative expansion efforts.
Thursday 30 Oct 2025 / 12:00
Atlaslive Explored the Future of Gaming in Latin America at Recent G2E 2025
(Las Vegas, SoloAzar Exclusive).- Bruno Almeida, Head of Sales LATAM at Atlaslive, attended G2E for the first time to explore how land-based and online gaming are converging. His experience highlighted key trends shaping the Latin American market, from immersive casino innovations to strategic networking and regulatory insights.
Monday 27 Oct 2025 / 12:00
G2E 2025: Cristian Galarza, ASAP Director Explains the Importance of Attending the Event
(Las Vegas, SoloAzar Exclusive). - After attending the 25th anniversary edition of G2E in Las Vegas, ASAP’s director shares his perspective on the evolution of the industry, driven by digitalization, efficiency, and the creation of international networks that foster new business opportunities.
Tuesday 28 Oct 2025 / 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.