Okada Manila says ‘19 gross revenues rose 46% to P39.8B

Okada Manila, an integrated resort and gaming complex operating in Pagcor Entertainment City and owned by Japan’s Universal Entertainment Corp., booked gross gaming revenues of P39.79 billion in 2019, up 46 percent from P27.22 billion recorded in 2018.

UEC operates Okada Manila through its local subsidiary Tiger Resort, Leisure and Entertainment Inc.

UEC said in a report posted on its website gaming revenues from VIP tables totaled P19.5 billion, up 57 percent from P12.65 billion a year ago, while gaming revenues from the mass market jumped 41 percent to P9.64 billion from P6.84 billion a year ago.

Revenues from gaming machines also climbed 33 percent to P10.29 billion from P7.72 billion in 2018.

Okada Manila operates 180 VIP gaming tables, 229 mass market gaming tables and 2,591 gaming machines as of end 2019.

Meanwhile, non-gaming revenues from hotel, food and beverage and entertainment components rose 44 percent to P2.58 billion in 2019 from P1.8 billion a year ago.

UEC said Okada Manila received 6.04 million visitors in 2019, up 24 percent from 4.86 million in 2018.

Gross gaming revenues in December surged 84 percent to P4.63 billion from P2.52 billion recorded in the same month in 2018.

Opened in December 2016, the 44-hectare Okada Manila was th third integrated resort and casino to operate in government sponsored Pagcor Entertainment City after Bloomberry Resort’s Solaire Resort & Casino and Melco Crown’s City of Dreams.

Once fully operational, Okada Manila is set to become the largest integrated entertainment resort in the country. It will occupy a total floor area of 34,321 square meters, housing over 500 table games and over 3,000 electronic gaming machines.

UEC in December reported the plan of Tiger Resorts to venture into real estate development, including condominiums. Tiger Resorts will form joint venture partnerships to develop the land adjacent to the casino scheme.

The move to venture into other real estate developments is in response to the steady expansion of its casino business.

Topics: Okada Manila , Pagcor Entertainment City , Universal Entertainment Corp , Tiger Resort , Leisure and Entertainment
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