TRLEI posts gross gaming revenue of US$154m for Q1

Gross gaming revenue was down 5.8 per cent quarter-on-quarter.

The Philippines.- Universal Entertainment Corp has shared financial results from Tiger Resort, Leisure and Entertainment (TRLEI) for the first quarter of 2024. The casino operator reported that gross gaming revenue (GGR) was down 5.8 per cent quarter-on-quarter and 24.1 per cent year-on-year at PHP8.78bn (US$154m).

VIP table game revenue was PHP2.59bn (US$45.5m), a decrease of 25.7 per cent quarter-on-quarter and 42.6 per cent year-on-year. Revenue from mass-market tables was PHP2.96bn (US$52m), up 16.9 per cent from the previous quarter but down 6.3 per cent in year-on-year terms. Gaming machine revenue was PHP3.23bn (US$56.7m), down 2.4 per cent quarter-on-quarter and down 17.2 per cent year-on-year.

Non-gaming revenue in the first quarter fell by 6 per cent sequentially and 6.5 per cent year-on-year to PHP971m. Adjusted segment earnings before interest, taxation, depreciation, and amortisation (EBITDA) increased by 29.9 per cent year-on-year and 2.5 per cent quarter-on-quarter to PHP2.33bn (US$40.9m).

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).