{"id":28985,"date":"2022-04-14T10:34:25","date_gmt":"2022-04-14T13:34:25","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=28985"},"modified":"2026-04-23T09:36:01","modified_gmt":"2026-04-23T12:36:01","slug":"okada-manila-posts-ggr-of-us115-7m-for-q1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/okada-manila-posts-ggr-of-us115-7m-for-q1","title":{"rendered":"Okada Manila posts GGR of US$115.7m for Q1"},"content":{"rendered":"\n

Okada Manila’s gross gaming revenue was down 14.1 per cent sequentially in the first quarter of the year.<\/p>\n\n\n\n\n\n\n\n

Japan.- The gaming company\u00a0Universal Entertainment Corp<\/strong>\u00a0has published its financial results for the first quarter of the year. It’s reported that Okada Manila\u2019s\u00a0gross gambling revenue declined 14.1 per cent<\/strong>\u00a0quarter-on-quarter to PHP6.02bn (US$115.7m).<\/p>\n\n\n\n

The first-quarter results came after\u00a0two consecutive quarters of consecutive GGR<\/a>\u00a0growth for the property. For the three months ended March 31, GGR from VIP table games was PHP2.54bn, down 32.6 per cent month-on-month. Mass table gaming revenue was PHP1.53bn, compared to PHP1.34bn in the previous quarter, while gaming revenue was about PHP1.95bn, up 2.6 per cent sequentially.<\/p>\n\n\n\n

Okada Manila also reported PHP356m in other revenue, including hotel and retail revenue. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was slightly over PHP1.15bn, down 16.1 per cent from the fourth quarter of 2021 but up 66.3 per cent year-on-year.<\/p>\n\n\n\n

Okada Manila\u2019s full-year GGR<\/strong>\u00a0for 2021 was PHP18.92bn, up 23.4 per cent when compared to the previous year but still down against pre-Covid-19 numbers.<\/p>\n\n\n\n

Last October,\u00a0Okada Manila<\/a>\u00a0signed a US$2.6bn merger agreement with 26 Capital Acquisition Corp that let the company go public in the United States. It is expected\u00a0the merger will provide the casino operator with US$275m in cash proceeds\u00a0<\/strong>that will be used for growth and other corporate purposes.<\/p>\n\n\n\n

Okada Manila\u2019s new gaming space offers 200 slot machines<\/h2>\n\n\n\n

The Perlas Club, Okada Manilas’ new gaming space for top-tier members opened in March<\/a>. It offers 200 slot machines, as well as six gaming tables for baccarat, roulette, and blackjack.<\/p>\n\n\n\n

The new gaming space is exclusive for Okada Manila\u2019s Maharlika <\/strong>members. Maharlika is the top level of the casino resort\u2019s five-tier casino loyalty programme, the Rewards Circle. It has an area of 2,600 square meters (27,986 sq feet) and is located at the complex\u2019s Pearl Wing.<\/p>\n","protected":false},"excerpt":{"rendered":"

Okada Manila’s gross gaming revenue was down 14.1 per cent sequentially in the first quarter of the year.<\/p>\n","protected":false},"author":176,"featured_media":25407,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Okada Manila reported a sequential decline in Q1 GGR by 14.1% to PHP6.02bn, following two quarters of growth, with adjusted EBITDA also down QoQ but significantly up year-on-year. This financial update comes as the integrated resort progresses with its US$2.6bn merger agreement with 26 Capital Acquisition Corp, aiming for a US public listing and securing US$275m for strategic growth initiatives. The property also expanded its premium gaming offerings with the launch of The Perlas Club.","focusai_entities":"Universal Entertainment Corp, Okada Manila, 26 Capital Acquisition Corp","focusai_location":"Japan, United States, Philippines","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Q1 GGR Drivers","query":"What specific market conditions or operational factors contributed to the sequential GGR decline in Q1, particularly the significant drop in VIP table game revenue, and how does this impact the property's full-year projections?"},{"label":"Merger Capital Deployment","query":"How will the US$275m in cash proceeds from the 26 Capital Acquisition Corp merger be strategically allocated to drive growth and enhance shareholder value, particularly in light of the recent GGR performance?"}],"footnotes":""},"categories":[157,16333],"tags":[8986],"class_list":["post-28985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-okada-manila"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=28985"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28985\/revisions"}],"predecessor-version":[{"id":28991,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28985\/revisions\/28991"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25407"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=28985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=28985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=28985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}