Okada Manila GGR down 19.6% in Q2
The operator has reported casino gross gaming revenue of PHP7.10bn (US$125.3m) for the second quarter of the year.
The Philippines.- Tiger Resort, Leisure and Entertainment (TRLEI), the operator of Okada Manila, has shared financial results for Q2, 2025. Gross gaming revenue (GGR) was down 19.6 per cent in year-on-year terms to PHP7.10bn (US$125.3m). In quarter-on-quarter terms, GGR was down by 9.1 per cent.
VIP revenue was PHP2.29bn (US$40.42m). That’s a decrease of 21.1 per cent in year-on-year terms and 29.4 per cent quarter-on-quarter. Gaming machine revenue was down by 6.3 per cent yearly, topping out at just PHP2.78bn (US$49.1m) in Q2. Revenue from mass-market tables in the April to June period stood at nearly PHP2.03bn (US$35.66m), down 31.6 per cent from a year earlier. Mass table revenue fell by 33.2 per cent quarter-on-quarter.
Non-gaming revenue fell by 7.5 per cent compared to the same period 2024 and 1.3 per cent sequentially to PHP929m (US$16.4m). Adjusted segment earnings before interest, taxation, depreciation, and amortisation (EBITDA) decreased by 46.4 per cent year-on-year and 35.4 per cent quarter-on-quarter to PHP1.15bn. During the second quarter, Okada Manila saw 1.41 million visitors, compared to 1.44 million in Q2, 2024.
For first-half 2025, GGR at Okada Manila stood at PHP14.91bn, down 15.4 per cent from the previous year. Adjusted segmental EBITDA in the six months to June 30 stood at PHP2.93bn, down 34.6 per cent from first-half 2024.
Looking at the quarter overall, revenue for TRLEI, a subsidiary of Universal Entertainment, amounted to PHP8.03bn (US$141.76m), down by 18.38 per cent year-on-year. Hotel occupancy during the quarter actually increased, reaching 86 per cent, compared to 78.9 per cent in Q2, 2024, with a slight drop in the average daily room rate.
