Okada Manila operator books 62% revenue growth in H1

Integrated casino firm Tiger Resort Leisure and Entertainment Inc. (TRLEI), the operator of Okada Manila, posted strong top line growth in the first half of 2023 amid continued recovery of the country’s gaming sector.

In a statement on Tuesday, TRLEI said it recorded a 62% surge in total revenues to P24.82 billion during the January to June period from P15.36 billion in the same period last year.

The company said the strong revenue print was mainly driven by the strong performance of its casino business, with gross gaming revenues reaching P22.86 billion, up 60% from P14.32 billion year-on-year.

“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,” said TRLEI president Byron Yip.

TRLEI said that since February 2022, Okada Manila has been operating at full capacity, reopening the integrated casino-resort to the public after two years of partial operations due to the pandemic.

The company also reported that  VIP wins stood at P8.94 billion, up 54% growth from P5.79 billion.

Meanwhile, mass table games’ win grew by 58% to P5.89 billion from P3.72 million, while gaming machines’ wins grew by 60% to P7.70 billion from P4.81 billion.

Non-gaming revenues —comprising hotel operations, food and beverage, retail, and entertainment services and other ancillary services— likewise, climbed by 89% to P1.95 billion from P1.04 billion.—LDF, GMA Integrated News