The recent decline of the Philippines’ land-based gaming sector continued for Okada Manila in the June quarter, with the resort’s operator Tiger Resort, Leisure and Entertainment Inc (TRLEI) reporting a 19.6% year-on-year fall in gross gaming revenues to Php7.10 billion (US$125 million). It was also 9.1% lower than 1Q25.
According to information published on parent company Universal Entertainment Corp’s website on Monday, the Q2 result included a 21.1% year-on-year decline in VIP table games GGR to Php2.29 billion (US$40.4 million) and a 22.8% decline in mass table games GGR to Php2.03 billion (US$35.8 million). Gaming machine revenue didn’t fall as dramatically but was still lower by 6.3% at Php2.78 billion (US$49.1 million).
Non-gaming revenue dropped by 7.5% to Php1.00 billion (US$17.7 million), impacted by a 2.4% decline in total property visitation to 1,412,486.
TRLEI said its Adjusted EBITDA in Q2 was down by 46.4% to Php1.15 billion (US$20.3 million).
For the first six months of 2025 combined, Okada Manila’s GGR is down 15.4% year-on-year to Php14.9 billion (US$263 million) including a 25.9% decline in VIP table games revenue to Php4.07 billion (US$71.8 million). Mass table games revenue is down 14.4% to Php5.07 billion (US$89.5 million) and gaming machine revenue down 5.2% to Php6.20 billion (US$109 million).
The continued decline in gaming revenues at Okada Manila comes with the Philippines’ Department of Tourism reporting a significant decline in visitor arrivals from the key markets of South Korea and China. The most recent figures show an 18.0% decline in visitors from South Korea through the first four months of 2025 and a 34.4% decline in visitors from China.
Ben Blaschke
A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.
