Philippines: Okada Manila Q4 2025 Revenue Plunges Amid VIP and Mass-Market Slowdown
Wednesday 14 de January 2026 / 12:00
2 minutos de lectura
(Manila).- Okada Manila reports a sharp 34% drop in Q4 casino gross gaming revenue, with VIP and mass-market segments declining. Full-year 2025 GGR falls 20% as adjusted EBITDA drops nearly half.
The Okada Manila casino resort in the Philippine capital posted casino gross gaming revenue (GGR) of just under PHP5.93 billion (US$99.7 million) in the fourth quarter of 2025, marking a 34.0% decline compared to the same period last year.
This information was disclosed in a Wednesday filing by the property’s operator, Tiger Resort, Leisure and Entertainment Inc.
Adjusted segmental earnings before interest, taxation, depreciation, and amortisation (EBITDA) for Okada Manila fell to approximately PHP238 million in Q4, down 88.5% from PHP2.07 billion in the prior-year quarter.
The steep decline was driven by a 78.9% year-on-year drop in VIP revenue, which fell to roughly PHP667 million. Revenue from mass-market tables reached PHP2.28 billion, down 10.8% from the previous year, while gaming machine revenue slipped 8.8% to PHP2.98 billion.
Non-gaming revenue for the quarter decreased 5.3% year-on-year, totaling PHP1.14 billion.
For the full year 2025, Okada Manila recorded GGR of nearly PHP27.81 billion, a 20.1% decline from 2024, with adjusted segmental EBITDA falling 44.0% to PHP4.27 billion.
Tiger Resort is a subsidiary of Japanese conglomerate Universal Entertainment Corp., which earlier in November had revised its 2025 forecast to a loss due to declining VIP activity at Okada Manila and lower amusement machine sales. Previously, the company had anticipated a profit of JPY800 million (US$5.04 million) for the year.
Universal Entertainment also manufactures pachinko and other amusement machines, primarily for the Japanese market.
Categoría:Reports & Data
Tags: Sin tags
País: Philippines
Región: Asia
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