By SectorWire desk · · Updated
Okada Manila recorded a 13% decline in Q3 EBITDA. The Philippine casino resort reported the earnings decline despite growth in mass gaming.
The earnings decline means mass gaming growth did not translate into higher EBITDA for Okada Manila.
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Mass-table performance partly offset VIP weakness in Okada Manila’s quarterly gaming revenue.
Casino operators face potential revenue weakness while customer reinvestment spending and operating costs put pressure on profitability.
An online launch could allow Melco to compete alongside Philippine integrated resorts that already offer digital gaming, according to Seaport.