Total revenue dropped 10.2 percent to P8.75 billion compared to the same time last year, according to parent firm Universal Entertainment in Japan.
Earnings before interest, taxes, depreciation, and amortization (Ebitda), a key measure of profitability, also fell 23.7 percent to P1.78 billion.
The biggest drag came from high rollers, or VIP gaming. High-roller chip volume sank 43 percent to P53.08 billion, and VIP winnings dropped nearly one-third to P1.77 billion.
Regular gaming did better
Table games were up three percent to P3.04 billion, and slot machines held steady at P2.99 billion.
Hotel operations stayed solid: room rates rose to P10,336, occupancy remained high at 82.9 percent, and revenue per room climbed 3.5 percent to P8,569.
Despite weaker VIP action, nearly 1.4 million guests visited during the quarter.
Trouble for other casinos?
It’s possible.
Okada Manila, the first Manila Bay integrated casino to announce results, could signal weakness in nearby properties.
“Okada tends to foreshadow performance of other players,” Nicky Franco, Abacus Securities research head, told InsiderPH.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
