{"id":5674,"date":"2020-04-16T10:49:21","date_gmt":"2020-04-16T10:49:21","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=5674"},"modified":"2026-04-24T06:03:25","modified_gmt":"2026-04-24T09:03:25","slug":"okada-manila-shutdown-casino","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/okada-manila-shutdown-casino","title":{"rendered":"Okada Manila shutdown to cost US$139m"},"content":{"rendered":"\n

Operator says it expected to be closed for a total of two months due to Coronavirus, forcing it to cut performance forecasts for the year. <\/p>\n\n\n\n\n\n\n\n

Philippines.- Okada Manila<\/strong><\/em><\/a> expects the current Coronavirus shutdown to see net sales drop by JPY15 billion (about US$139million) during the closure period.<\/p>\n\n\n\n

The Okada Manila resort\u2019s parent, Japan-based Universal Entertainment Corp, said it expects the measures requiring the closure of Okada Manila to be further extended until mid-May. <\/p>\n\n\n\n

This means the property would have been out of action for two months, resulting in the dramatic revenue loss. <\/p>\n\n\n\n

Based on these estimations, Universal Entertainment has cut its performance forecast for calendar year 2020. <\/p>\n\n\n\n

The company now expects to achieve net sales of JPY175.0 billion, a decline of 7.9 per cent compared to the company\u2019s prior estimate. <\/p>\n\n\n\n

The firm also reduced its estimate for full-year operating income by 21.1 per cent to JPY22.5 billion. Net income is now forecast to hit JPY26.0 billion, a decline of 18.8 per cent compared to the prior estimate.<\/p>\n\n\n\n

Philippine authorities announced last week an\u00a0extension to its Coronavirus lockdown<\/strong><\/em><\/a> until April 30. <\/p>\n","protected":false},"excerpt":{"rendered":"

Operator says it expected to be closed for a total of two months due to Coronavirus, forcing it to cut performance forecasts for the year.<\/p>\n","protected":false},"author":2,"featured_media":0,"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, a Philippine integrated resort, anticipates a JPY15 billion (US$139 million) net sales reduction due to an extended two-month operational shutdown caused by the Coronavirus. Its parent company, Universal Entertainment Corp., has consequently revised its full-year 2020 performance forecasts, projecting significant declines in net sales, operating income, and net income. This highlights the severe financial impact of regulatory-mandated closures on the gaming sector's profitability.","focusai_entities":"Okada Manila, Universal Entertainment Corp.","focusai_location":"Philippines, Japan","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Liquidity & Debt Covenants?","query":"What is the projected impact on Universal Entertainment's long-term debt covenants and liquidity position given these revised forecasts?"},{"label":"Regional Market Resilience?","query":"How does this operational disruption in the Philippines compare to the financial resilience observed in other major Asian integrated resort markets?"}],"footnotes":""},"categories":[160,28,161,16333],"tags":[128],"class_list":["post-5674","post","type-post","status-publish","format-standard","hentry","category-asia-pacific","category-casino-news","category-daily-news","category-south-east-asia-news","tag-philippines"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5674","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=5674"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5674\/revisions"}],"predecessor-version":[{"id":5682,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5674\/revisions\/5682"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=5674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=5674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=5674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}