Okada Manila GGR up 37.7% in Q2

Kazuo Okada retook control of Okada Manila on May 31.
Kazuo Okada retook control of Okada Manila on May 31.

Kazuo Okada’s team has reported casino gross gaming revenue of PHP8.30bn (US$149.3m) for the second quarter of the year.

The Philippines.- While disputes between Kazuo Okada and Universal Entertainment for the control of Okada Manila continue, the casino has reported gross gaming revenue of PHP8.30bn (US$149.3m) for Q2, up 37.7 per cent quarter-on-quarter from PHP6.02bn.

The company reported that VIP GGR was up 27.8 per cent quarter-on-quarter to PHP3.25bn while mass-market table GGR was up 42.8 per cent to PHP2.19bn. Gaming machine GGR grew 46.7 per cent to PHP2.86bn and non-gaming revenue, including from hotel and food and beverages, was up 77.8 per cent to PHP665m.

Okada’s team took over Okada Manila on May 31. The financial report was issued in the name of Tiger Resort, Leisure and Entertainment Inc (TRLEI) as the operating entity of the property. However, Universal Entertainment is disputing Okada’s right to speak on behalf of TRLEI through a court case in the Philippines. Universal Entertainment will also file criminal charges against Kazuo Okada and his team in Hong Kong. 

According to Universal Entertainment, Hong Kong-registered Tiger Resort Asia Limited (TRA) is the parent company that holds 99.9 per cent of the voting rights of Tiger Resort, Leisure and Entertainment (TRLEI).

The company said: “TRA is a wholly-owned subsidiary of the company and […] the directors of TRA are appointed by the company are recognized by the authorities under Hong Kong law and registered and publicly disclosed in Hong Kong.”

Universal claims that Okada’s behaviour amounts to a violation of Hong Kong law and said it intends to file charges relating to the falsification of official documents, fraud and embezzlement.

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