First quarter revenues down another 17 per cent for Philippine operator
Okada Manila, one of the leading integrated resorts in the Philippines, is continuing to suffer from the effects of a drop in visitation of players from China and South Korea, with GGR falling 17.2 per cent to Php6.47bn (US$108m) in the first quarter of the year.
The casino’s owner and operator Tiger Resort, Leisure and Entertainment Inc (TRLEI), detailed, however, how there was an improvement from quarter-to-quarter with the result up from the Php5.93bn (US$99.7m) generated in the December quarter.
The first quarter saw VIP gaming revenues fall by 19 per cent, mass gaming revenues drop by 24.2 per cent and slot revenue fall by 8.9 per cent. Last year GGR fell by 20.1 per cent.
As it looks to address the fall in revenue, Tiger has introduced a new online gaming platform under the brand OKADA PLAY in partnership with PhilWeb Corporation.
Under the agreement, PhilWeb will deliver a comprehensive Online Gaming Platform (OGP) solution for OKADA PLAY, encompassing a full suite of gaming content, platform technology, customer service infrastructure, and marketing support. The partnership marks a significant step in expanding Okada Manila’s footprint into the digital gaming space, reinforcing its position as a leading premium integrated resort in the Philippines.
“This partnership reflects our continued commitment to providing best-in-class gaming solutions to industry leaders,” said Mr. Brian Ng, President of PhilWeb Corporation. “By working with Tiger Resort, Leisure and Entertainment, Inc., we are enabling the extension of a globally recognized luxury gaming brand into the online space through a robust and scalable platform.”
“OKADA PLAY marks a strategic step in scaling our digital gaming presence and reinforcing our leadership in the market,” said Nobuki Sato, President and COO of Okada Manila. “By expanding our platform portfolio through this partnership, we are able to reach new player segments while continuing to elevate the premium digital experience associated with the Okada brand.”
The launch of OKADA PLAY is expected to support Okada Manila’s broader digital transformation strategy, enhancing customer engagement beyond its physical property while complementing its existing online platforms and capturing new revenue opportunities within the regulated online gaming ecosystem.
The post With revenues continuing to fall, Okada Manila turns to online venture appeared first on G3 Newswire.
First quarter revenues down another 17 per cent for Philippine operator Okada Manila, one of the leading integrated resorts in the Philippines, is continuing to suffer from the effects of a drop in visitation of players from China and South Korea, with GGR falling 17.2 per cent to Php6.47bn (US$108m) in the first quarter of…
The post With revenues continuing to fall, Okada Manila turns to online venture appeared first on G3 Newswire.