Okada Manila's GGR surged by 29.7% YoY

Janak9955

In the third quarter of 2023, Okada Manila, a integrated resort and casino in the Philippines, reported gross gaming revenue (GGR) of 12.4 billion pesos (approximately 218 million US dollars), showing a year-on-year growth of 29.7% and a 9.3% increase from the previous quarter. The mass market, especially in mass table games (with a year-on-year growth of 64.6%) and gaming machines (with a year-on-year growth of 24.6%), showed significant improvement. Various sectors experienced year-on-year growth, and even the VIP table games increased by 11.7%.

During this period, the property EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) adjusted for seasonality reached 35.6 billion pesos (about 627 million US dollars), reflecting a 15.8% growth from the quarter and a 45.6% growth from the year, and 1,498,487 guests stayed at Okada Manila in the third quarter of 2023, an increase from 1,109,791 guests during the same period last year. In the first nine months of the year, the integrated GGR and adjusted property EBITDA grew by 47.7% and 72.0%, respectively, reaching 35.2 billion pesos (approximately 620 million US dollars) and 9.95 billion pesos (about 175 million US dollars).

This success comes after a recent decision by a US judge, stating that the operating entity of Okada Manila does not need to proceed with the previously planned SPAC (Special Purpose Acquisition Company) merger with 26 Capital, which would have taken the integrated resort to the NASDAQ stock exchange.

Ritu13

The growth rate is also relatively high.

Yamini003

It seems like there isn't much of a tourist season right now.

977Iti

This growth is quite substantial, isn't it?

Kapil334

The steady growth suggests that their popularity has also increased.