TRLEI posts gross gaming revenue of US$192.68m for Q4
Gross gaming revenue was up 10 per cent quarter-on-quarter at the Okada Manila casino resort.
The Philippines.- Universal Entertainment Corp has shared Q4 financial results for Tiger Resort, Leisure and Entertainment (TRLEI). It’s reported PHP10.49bn (US$192.68m) in gross gaming revenue (GGR), up 10 per cent quarter-on-quarter from PHP9.51bn (US$170.78m) and up 49.6 per cent year-on-year.
The rise was mostly driven by mass-market gaming, with table game income increasing by 132 per cent year-on-year and 25 per cent quarterly to PHP3.11bn (US$57.17m). Gaming machine revenue increased 98 per cent year-on-year and 23 per cent when compared to the previous quarter to PHP3.78bn (US$69.37m).
VIP play at the hotel was down 4 per cent when compared to the previous year and down 9 per cent quarter-on-quarter to PHP3.6bn ($66.1m). That’s despite an increase in VIP rolling chip quantities of 3.66 per cent year-on-year.
Adjusted segmental earnings before interest, taxation, depreciation and amortisation (EBITDA) was PHP2.82bn (US$$51.88m), up 96.3 per cent year-on-year and up 15 per cent when compared to the previous quarter. Total revenue, including hotel operations, food and drink and entertainment, was PHP11.55bn (US$212.09m), up 95.3 per cent year-on-year.
Okada Manila GGR up 81.5 per cent in 2022
For full-year 2022, the casino operator reported GGR of PHP34.34bn (US$630.21m) from Okada Manila. The figure was up 81.5 per cent when compared to the previous year. Most of this came from VIP gaming, which totalled PHP13.34 bn (US$244.96m), representing an annual growth rate of 39.66 per cent. Compared with 2019, the figure was down 32.8 per cent.
Slot machine revenue was the second largest contributor for the year at PHP11.65bn (US$213.93m), up 112.5 per cent year-on-year, surpassing 2019’s PHP10,29bn (US$188.93m) machine revenue from registered slot machines.
Mass-market table games also saw a solid annual recovery, reaching PHP9.33bn, up 144.7 per cent year-over-year, and only down 3.2 per cent from pre-Covid-19 levels in 2019.
Total revenue for the year reached PHP37.19bn (US$682.68m), an increase of 88 per cent year-on-year and a decrease of 12 per cent compared to 2019. Adjusted EBITDA was PHP8.61bn (US$158.03 m), up 263 per cent when compared to the previous year up 25 per cent when compared to 2019.