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Okada Manila Records Steady Increase in Profit for November
January 4, 2020 TamaraTam
The company behind the Philippines Integrated Resort Okada Manila, Tiger Resort, Leisure & Entertainment Inc has recently disclosed its financial report for November. According to the figures, the local operator has recorded a 29% rise in gross gaming revenues during the same period. The total amount of gaming revenues increased to PHP3.76 b ($74.1m).
More About Increase
The parent company of Okada Manila, Universal Entertainment Corporation has also released financial report for the operator. The report shows an overall increase in revenues which came from VIP turnover marking 86.5% rise to a total of $1,32 billion. The increase in VIP turnover occurred despite the impact of the win rate decline compared to the same period last year.
Particular Games
If we take a look at specific games, Okada Manila recorded a mass table increase of 9.4% and an overall win of $17.4 million. At the same time, slots profit rose by 45.7%, crossing the level of $19.6 million.
During November, the Okada venue marked an enormous visitation rate since the initial opening of the resort. In November, there were about 542,158 visitors to the resort. The venue is expected to launch new rooms in the first part of 2020 while increasing the present number of available rooms to 1000. Additionally, Entertainment City IR Okada Manila is going to attract leading international hotel companies as part of further expansion.
Universal Entertainment Corporation president, Jun Fujimoto, has recently discussed expansion plans with Philippines president Rodrigo Duterte. The first part of the expansion will be finished with the addition of hotel rooms and Universal will commence with the second phase upon completion.
The company issued the statement:
“Going forward, in addition to plans to develop condominiums and other forms of real estate, we also have plans to collaborate with businesses with which we expect to have a synergy and entice major brand hotels.”
Okada looks to attract not only hotel investors, but also to “develop condominiums and other forms of real estate.“
The company believes that “This [real estate business] will strive to strengthen the profitability of … [the] integrated resort business.”
Source:
“Okada Manila sees a sharp increase in revenue for November“, Ad Miral, calvinayre.com, December 13, 2019.
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Okada Manila is a very successful company. I believe in their constant progress over the next period. The November figures are very promising and expansion ideas are soon to happen. The Philippines is another good location for casino gamblers with great potential and future…