Okada Manila reports GGR November growing

The Company informed an increase in gross gaming revenue last month.

Philippines.- Good news for Philippines integrated resort Okada Manila: the Company reported a 29% increase in gross gaming revenue (GGR) to Php3.76 billion (€66.8 million) in November. The growing comes related to strong increases across all gaming segments.

According to figures released by parent company Universal Entertainment Corp, VIP turnover soared by 86.5% to PHP 66.80 billion (€1.18 billion) for the month, although VIP revenue of PHP 1.89 billion (€33.5 million) was impacted by a sharp decline in win rate from 4.06% in November 2018 to 2.82% this time around.

Okada Manila enjoyed in November a record monthly visitation of 542,158 due to the ongoing ramp of the property and opening of more rooms. The company is expecting to open the remainder of its rooms in 1Q20, lifting its total hotel room inventory to almost 1,000.

Adjusted segment EBITDA increased 33% to PHP 174 million (€3 million) .

GGR at Okada Manila through the first 11 months of 2019 sits at PHP 35.16 billion, a year-on-year increase of 42.4%.