Okada Manila Reports Decline in Earnings and Revenue for First Nine Months of 2025
Wednesday 15 de October 2025 / 12:00
⏱ 1 min read
(Manila).- Tiger Resort, Leisure and Entertainment Inc. (TRLEI), the owner and operator of the integrated resort Okada Manila, has reported a significant decline in both earnings and revenues for the first nine months of 2025, as visitor numbers continued to fall.
According to a regulatory filing, TRLEI’s earnings before interest, taxes, depreciation, and amortization (EBITDA) dropped 27% to ₱4.06 billion from ₱5.56 billion in the same period of 2024. Total revenues also decreased 14% to ₱24.62 billion, compared to ₱28.75 billion in the previous year.
Before the release of the third-quarter report, Abacus Securities Corp. noted that Okada Manila’s performance would reflect broader trends across integrated resorts in the Philippines, emphasizing the slow recovery of international tourism.
“Chinese and Korean tourist arrivals remain weak, with year-to-date declines of 22% and 20%, respectively. This will continue to impact VIP volumes across all integrated resorts,” the brokerage said.
TRLEI reported that gross gaming revenue (GGR) declined 15% to ₱21.88 billion from ₱25.84 billion, while non-gaming revenue fell 6% to ₱2.74 billion from ₱2.91 billion.
VIP table games generated ₱5.52 billion, down 30% from ₱7.95 billion in 2024.
Mass table games GGR dropped 10% to ₱7.58 billion from ₱8.38 billion.
Gaming machines GGR fell 8% to ₱8.78 billion from ₱9.51 billion.
Visitor numbers at Okada Manila also decreased to 4.11 million from 4.32 million during the same period last year. However, the property recorded a higher hotel occupancy rate of 85.2%, up from 82.9%, and a slightly higher average room rate of ₱10,028 from ₱9,961.
For the third quarter of 2025, TRLEI reported total revenue of ₱7.84 billion, comprising ₱6.98 billion in GGR and ₱864 million in non-gaming revenue. The company’s adjusted segment EBITDA for the quarter stood at ₱1.11 billion.
Categoría:Reports
Tags: Sin tags
País: Philippines
Región: Asia
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