Universal Entertainment has announced the Q2 results of its subsidiary, Tiger Resort, Leisure And Entertainment, Inc (TRLEI), the operator of Okada Manila.
According to the latest notice on the company’s official website, TRLEI has achieved “gross gaming revenue of PHP8,835m (US$151m), other revenue of PHP1,004m and adjusted segment EBITDA of PHP2,146m for the second quarter of the fiscal year 2024.”
Total revenue amounted to PHP19,586m (US$334.68), which consisted of PHP17,612m gross gaming revenue and PHP1,974m of ‘Other Revenue,’ with an adjusted segment EBITDA totaling PHP4,478m for the first half of the fiscal year 2024.
The above-mentioned amount was a decrease from the same period in 2023, which had posted total revenue of PHP24,816m, with PHP22,863m gross gaming revenue; a 21% decrease. All gaming revenue, from VIP table games to mass market games and game machines, also saw a decrease in revenue in 2024 against 2023.
The ‘Other Revenue,’ which included hotel services, F&B, retail and entertainment is the only improvement, as 2023 only saw PHP1,952m compared to 2024’s PHP1,974m. This looks to be in line with the slight increase of property visitors, in which 2,883,507 in 2023 has risen to 2,902,948 in 2024.
Despite TRLEI’s decrease in revenue, PAGCOR’s latest update has shown an increase in its own, as well as the Philippines’ overall gross gaming revenue, which saw a 19.21% increase from last year.
