Japanese pachinko, slot and arcade games manufacturer, Universal Entertainment Corporation, has reportedly announced that October saw its Okada Manila integrated casino resort amass earnings before interest, tax, depreciation and amortization of $6.98 million.
According to a report from GGRAsia citing a Tuesday filing (pdf) from the giant Tokyo-listed conglomerate, the monthly figure represented the highest for the Philippines facility since its soft launch at the back end of 2016 and had been significantly helped by an improved mass-market gaming revenues margin.
Additional good news:
Universal Entertainment Corporation is responsible for the 110-acre Okada Manila via its Tiger Resort, Leisure and Entertainment Incorporated subordinate and it detailed that the 31-day period had moreover seen the venue reduce its fixed-cost ratios, secure ‘more favorable junket agreements’ and record near-record gross gaming revenues from its 500 tables to $50.44 million.
Ten-month figures soar:
The Tokyo-headquartered firm also explained that the most recent financial figures had taken the property’s ten-month earnings before interest, tax, depreciation and amortization to well over $21.37 million as gross gaming revenues for the longer period surpassed $410.65 million.
Read a statement from Universal Entertainment Corporation…
“Gross gaming revenues increased by higher win rates in all segments of VIP, mass-market table games and gaming machine. The gross gaming revenue increase was also associated with additional revenue contribution by new contracted junkets in VIP table games and mass-marketing initiatives that started in the previous quarter and continuously drove the foot traffics in the mass market.”
Optimistic occupancy rates:
Finally, Universal Entertainment Corporation declared that Okada Manila, which is located in the Entertainment City district some seven miles south of the center of Manila, had seen an average October occupancy rate for its 993 rooms of 97.7% with the median daily rate hitting approximately $174.19.