Okada Manila's 3Q GGR Declines, but EBITDA Sees Growth
The Okada Manila casino resort in the Philippine capital reported a gross gaming revenue (GGR) of PHP6.98 billion (US$119.9 million) in the third quarter, a 15.3 percent decline from the prior-year period. The latest quarterly GGR also saw a 1.8 percent sequential decline.
According to a filing from the property's promoter, Tiger Resort, Leisure and Entertainment Inc, the adjusted segmental earnings before interest, taxation, depreciation, and amortisation (EBITDA) for Okada Manila stood at nearly PHP1.11 billion in the three months to September 30. This represents a 2.0-percent increase from a year earlier, although it declined by 3.9 percent sequentially.
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Author's summary: Okada Manila's GGR declined, but EBITDA grew 2%.