The Okada Manila casino resort in the Philippines' capital had its second-quarter gross gaming revenue (GGR) drop by 2.4% year-over-year to little over PHP11.29 billion (US$207.7 million).
According to a report released on Thursday, Universal Entertainment Corp., a Japanese gaming company, reported a 36.1% increase in GGR year-over-year for the second quarter. The data was included in the property's preliminary results, which are advertised by a company named Tiger Resort, Leisure and Entertainment Inc.
Okada Manila was invaded by followers of deposed Universal Entertainment founder Kazuo Okada beginning on May 31, 2022, and continuing over the next three months. On September 4, 2022, Universal Entertainment released a statement saying they had regained ownership.
Annualized Growth Rate for the Second Quarter
According to SportBettingGeorgia.com reports, it came to light that a Philippine court had issued an arrest warrant for Mr. Okada and others for "qualified stealing" during the three months that his gang physically occupied Okada Manila.
In the second quarter of this year, the property's adjusted segment EBITDA decreased 7.8 percent from the first three months, totaling PHP3.07 billion. The EBITDA for the second quarter was up 39.9 percent over the same period last year.
Okada Manila reported sales of little under PHP12.21 billion in the second quarter of 2023, down 3.2% sequentially but up 36.2% from the same period in 2022.
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