Universal Entertainment is located in Manila Entertainment City and is the parent company of Okada Manila.

In a filing, the company noted that Okada Manila's second-quarter performance was similar to the first quarter, with a decline from the same period last year, saying: "The slowdown in VIP business has had a negative impact on the overall market conditions of the Philippine casino business. Negatively, the number of VIP guests at Okada Manila continues to decrease.”

"Although the performance of the mass market and console divisions has declined compared with the previous year after demand rebounded, turnover is still growing steadily compared with the pre-pandemic peak in 2019. In the hotel and catering business, visitor numbers have remained stable At a high level.”

Universal Entertainment said Okada Manila recorded net sales of 41.7 billion yen (US$284 million) in the first half of 2024, down 13.1% year-on-year, and operating profit fell 55.1% year-on-year to 3.28 billion yen (US$224 million), adjusted Post-EBITDA fell 22.3% to 11.7 billion yen ($798 million).

In the "entertainment equipment business", sales fell 32.6% to 20.8 billion yen ($142 million), and operating profit fell 51.1% to 3.76 billion yen ($256 million).

The company explained that pachinko slot machines continue to outperform pachinko machines, adding that "the performance of smart pachinko slot machines continues to be strong and in line with the expectations of pachinko hall operators, so the market environment for pachinko slot machines is favorable."

"In the pachinko segment, deliveries of machines with a lucky trigger feature (which allows players to win multiple pinballs) have begun. Compared to the strong sales of the pachinko slot machine category, sales of the latter are currently a bit slow."

The group's overall sales fell 20.7% year-on-year to 62.9 billion yen ($429 million), and net income attributable to owners of the parent company fell 97.5% to 525 million yen ($3.6 million).