MJC Investments gaming revenue surges 478.5% in Q2

Gaming revenue at MJC Investments rose to PHP56.0m for the three months to June 30.

The Philippines.- MJC Investments Corp, promoter of Manila’s Winford Hotel and Casino, has reported revenue of PHP56m from gaming operations in the second quarter. That’s a rise of 478.5 per cent from PHP9.7m in the same quarter last year. For the first six months of the year, gaming revenue was PHP91.4m.

The company attributed the increase in gaming revenue to higher gaming capacity and foot traffic after authorities eased Covid-19 countermeasures. Revenue from bingo operations stood at PHP15.7m. Operations restarted on a limited scale in December 2021.

The company reported a 24.8 per cent decrease in its second-quarter net loss to PHP130.0m (US$2.3m), compared to PHP172.9m in the previous quarter. The company reported a net loss of PHP249.3m for the first six months, an improvement from PHP330.3m a year earlier.

The Winford Manila Resort & Casino currently has 22 operational gaming tables and 492 operational slot machines. However, it plans to gradually increase its operational table games to 30, and increase the number of slot machines to more than 500 by year’s end.