The group has announced the delayed results of its second fiscal quarter.
The Philippines.- Universal Entertainment Corp has reported Q2 financial results Tiger Resort, Leisure and Entertainment (TRLEI) following a delay due to efforts to normalise operations after the company retook control of Okada Manila in September.
Revenue was PHP8.96bn (US$142.7m), up 233 per cent year-on-year. Gross gaming revenue was PHP8.29bn and adjusted segment EBITDA PHP2.17bn. Year-to-date revenue amounted to PHP15.36bn, comprising gross gaming revenue of PHP14.32bn and other revenue of PHP1.03bn. Adjusted segment EBITDA totalled PHP3.33bn for the first half of fiscal year 2022.
Universal Entertainment reported that it will disclose TRLEI‘s third quarter results as soon as it has verified the figures The delay comes after the arrest of Kazuo Okada. The Japanese billionaire was arrested after returning to the Philippines to face charges of grave coercion brought against him in connection with his forced takeover of the Okada Manila casino in late May.
Okada said in a statement: “I insisted on coming back to the Philippines despite several warnings from my lawyers that I may be detained by the authorities. I want to show the Filipino people and the world that I am not afraid. I came back to face this “grave coercion” charge against me and my associates.
“I have nothing to fear when I know I am standing on the right side of the law. I will not bow down to intimidation, and I will not back off from this legal battle. This fight isn’t over.”