Second quarter casino gross gaming revenue (GGR) declined by 21.8 percent year-on-year at the Okada Manila casino resort (pictured) in the Philippine capital, according to a Friday filing from its promoter, Tiger Resort, Leisure and Entertainment Inc.

Such GGR for the three months to June 30 was just under PHP8.84 billion (US$151.3 million), compared to PHP11.29 billion in the prior-year period. The result was up slightly sequentially, compared to PHP8.78 billion in the January to March period.

Quarterly GGR at Okada Manila has been declining in year-on-year terms since the end of the third quarter of last year, according to company inofrmation. After recording a year-on-year GGR increase of 29.7 percent for the July to September 2023 period, the property recorded declines of 11.2 percent and 24.1 percent in the fourth quarter of 2023 and the first quarter of 2024, respectively.

For the first half of 2024, Okada Manila recorded GGR of PHP17.61 billion, representing a year-on-year decline of 23.0 percent.

The second-quarter GGR tally was dragged by a 34.5 percent year-on-year fall in VIP revenue, to PHP2.90 billion. VIP revenue was however up 12.2 percent quarter-on-quarter.

Revenue from mass-market tables stood at PHP2.97 billion in the three months to June 30, down 3.4 percent from a year earlier, and flat from the preceding quarter.

Gaming machines generated revenue of PHP2.97 billion, 21.8-percent lower than a year ago, and down 8.2 percent sequentially.

Non-gaming revenue in the second quarter was up by 9.7 percent year-on-year, to about PHP1.00 billion. Measured quarter-on-quarter, such revenue increased 3.4 percent.

Second-quarter adjusted segmental earnings before interest, taxation, depreciation and amortisation (EBITDA) for Okada Manila declined by 30.0 percent from a year earlier, to PHP2.15 billion. Such earnings went down by 8.0 percent sequentially.

Okada Manila welcomed close to 1.45 million visitors in the second quarter. That was an increase of about 25,000 visitors in year-on-year terms. The property had recorded around 1.46 million visitors in the first quarter of 2024.

Tiger Resort is a unit of Japanese conglomerate Universal Entertainment Corp.