Tiger Resort Leisure and Entertainment Inc., the operator of integrated casino hotel Okada Manila, said Wednesday revenues grew 62 percent in the first half to P24.82 billion from P15.36 billion in the same period last year.
This was driven by the strong performance of its casino business, with gross gaming revenues reaching P22.86 billion, up 60 percent from P14.32 billion a year ago.
VIP wins stood at P8.94 billion, a 54-percent growth from P5.79 billion. Mass table games wins rose 58 percent to P5.89 billion from P3.72 million, while gaming machines wins grew 60 percent to P7.70 billion from P4.81 billion, it said.
Non-gaming revenues—comprising hotel operations, food and beverage, retail and entertainment services and other ancillary services—soared 89 percent to P1.95 billion from P1.04 billion.
“We continuously see a strong rebound in demand for gaming, leisure and entertainment. We are confident that the market will continue to recover throughout the year and we anticipate a healthy top line by the end of 2023,” TRLEI president Byron Yip said.
Okada Manila said has been operating at full capacity since February 2022, after reopening the integrated casino resort to the public after two years of partial operations due to the pandemic.
Okada Manila said it helped drive the revenues of Philippine Amusement and Gaming Corp. in the first two quarters of 2023.
“We are eager to sustain the growth momentum for the rest of the year, as we continue tostrengthen Okada Manila’s operations. We are one with the government in helping the industry recover and expand faster in the coming years,” Yip said.
