TRLEI posts gross gaming revenue of US$151.3m for Q2

Gross gaming revenue was down 21.8 per cent year-on-year.

The Philippines.- Universal Entertainment Corp has shared the financial results of Tiger Resort, Leisure and Entertainment (TRLEI) for the second quarter of the year. The casino operator posted gross gaming revenue (GGR) of PHP8.84bn (US$151.3m). 

The figure was down 21.8 per cent year-on-year but slightly higher than the PHP8.78bn (US$154m) recorded in the first quarter of the year. VIP table game revenue was PHP2.90bn (US$49.7m), a decrease of 34.5 per cent year-on-year. Revenue from mass-market tables was PHP2.97bn (US$50.9m), down 3.4 per cent. Gaming machine revenue was PHP2.97bn (US$50.9m), down 21.8 per cent year-on-year and 8.2 per cent sequentially.

Non-gaming revenue in the second quarter was up by 9.7 per cent year-on-year and 3.4 per cent sequentially to PHP1.0bn (US$17.1m). Adjusted segment earnings before interest, taxation, depreciation, and amortisation (EBITDA) declined by 30 per cent year-on-year and 8 per cent quarter-on-quarter to PHP2.15bn (US$36.8m).

Okada Manila recorded close to 1.45 million visitors in the second quarter. That was an increase of about 25,000 when compared to the second quarter of 2023. The property recorded approximately 1.46 million visitors in the first quarter of 2024.

Cumulative, GGR for the first six months of 2024 was PHP17.6bn (US$301m), down 23 per cent year-on-year.

For full-year 2023, the casino operator reported GGR of PHP44.54bn (US$798m) from Okada Manila. The figure was up 29.7 per cent when compared to the previous year. Non-gaming revenue was up 36.3 per cent year-on-year, to just below PHP3.90bn (US$69.9m).