Universal Entertainment experiences robust growth in gross gaming revenue

In the third quarter of 2023, gross gaming revenue (GGR) at Universal Entertainment’s integrated resort Okada Manila increased impressively to PHP 12.35 billion, a noteworthy year-over-year jump of 29.7 percent. All sectors saw positive success, with gaming machines, mass, and VIP all contributing to the overall rise.

With PHP 4.42 billion in VIP income, Okada Manila achieved a noteworthy annual rise of 7%. Significant success was also made by the mass market play, which reached PHP 4.1 billion—a remarkable 64.6 percent rise over the same period in 2022. Furthermore, revenue from gaming machines climbed by 24.6 percent to PHP 3.8 billion.

The quarter’s VIP rolling chip was PHP 149.99 billion, a 41% year-over-year growth. At the same time, the mass table drop reached PHP 13.13 billion, a year-over-year rise of 39%. The adjusted segment EBITDA for Okada Manila increased by 45.6 percent to PHP 3.55 billion.

The Integrated Resort segment of Universal Entertainment had total net sales of JPY 27.2 billion, up 34.4 percent from the previous year, and a profit of PHP 4.85 billion, or a 173 percent increase. The sector’s adjusted segment EBITDA rose considerably as well, reaching PHP 8.87 billion, a 53 percent gain.

Universal Entertainment’s Pachislot and Pachinko divisions shown endurance in the face of a downturn in Pachislot sales. During the quarter, the company sold 22,510 Pachislot units, down from 22,701 in the third quarter of 2022. On the other hand, Pachinko machine sales surged by 373% to 14,252. A noteworthy 43 percent annual gain in machine sales—36,762 in total—was followed by a 58 percent increase in sector gross profit of JPY 6.81 billion.

Original story by: Asia Gaming Brief