{"id":7698,"date":"2024-08-12T05:31:54","date_gmt":"2024-08-12T05:31:54","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/08\/12\/decline-in-vip-attendance-impacts-okada-manilas-gaming-revenue\/"},"modified":"2024-08-12T05:31:54","modified_gmt":"2024-08-12T05:31:54","slug":"decline-in-vip-attendance-impacts-okada-manilas-gaming-revenue","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/08\/12\/decline-in-vip-attendance-impacts-okada-manilas-gaming-revenue\/","title":{"rendered":"Decline in VIP Attendance Impacts Okada Manila\u2019s Gaming Revenue"},"content":{"rendered":"<div>\n<p>Universal Entertainment Corp, the Japanese powerhouse and owner of Okada Manila casino resort in Manila, has reported a downturn in its gaming sector for the quarter ending June 30. The dip is attributed primarily to a decrease in VIP guest numbers. The resort also witnessed a <a href=\"https:\/\/igaming.org\/crypto\/okada-manila-reports-decline-in-q2-casino-revenue\/\">decline in Q2 revenue<\/a>.<\/p>\n<p><em>\u201c[The] slowdown of the junket business negatively affected the overall market conditions for the casino business in the Philippines,\u201d<\/em> Universal Entertainment stated on Thursday. This deceleration in the junket operations led to fewer VIP patrons, directly impacting the casino\u2019s earnings compared to the same period last year.<\/p>\n<h2><strong>Mass Market Shows Resilience Amid VIP Decline<\/strong><\/h2>\n<p>While the VIP segment suffered, there\u2019s a silver lining. The mass market and gaming machine sectors, though experiencing a drop from last year\u2019s post-Covid resurgence, have showcased steady growth relative to their pre-pandemic performance in 2019. Furthermore, the hotel, along with food and beverage divisions, continues to enjoy consistently high guest numbers.<\/p>\n<p>Data from a July filing reveals that Okada Manila\u2019s casino gross gaming revenue (GGR) plummeted by 21.8% year-on-year, settling at PHP8.84 billion (US$154.1 million). This marks the continuation of a downward trend in quarterly GGR since the close of Q3 last year. Additionally, the adjusted segmental earnings before interest, taxation, depreciation, and amortisation (EBITDA) dropped by 30.0% from the previous year, reaching PHP2.15 billion\u2014a sequential decline of 8.0%.<\/p>\n<p>In response to these challenges, Universal Entertainment highlighted efforts to bolster their gaming business. <em>\u201c[Okada Manila is] recruiting and training people in order to strengthen marketing capabilities in the gaming business,\u201d<\/em> the company announced. The strategy aims to draw more visitors from regions in the Philippines beyond Luzon Island, where Manila is situated. There\u2019s also a focus on attracting tourists from Japan, South Korea, and Southeast Asian nations.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"Mirax Casino\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Mirax-Casino.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Mirax Casino\" target=\"_blank\" rel=\"nofollow noopener\">Mirax Casino<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of 350% + 150 Free Spins\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/decline-in-vip-attendance-impacts-okada-manilas-gaming-revenue\/\">Decline in VIP Attendance Impacts Okada Manila\u2019s Gaming Revenue<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Universal Entertainment Corp, the Japanese powerhouse and owner of Okada Manila casino resort in Manila, has reported a downturn in its gaming sector for the quarter ending June 30. The dip is attributed primarily to a decrease in VIP guest numbers. The resort also witnessed a decline in Q2 revenue. \u201c[The] slowdown of the junket [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-7698","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/7698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=7698"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/7698\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=7698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=7698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=7698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}