Content Writer: Janice Chew • Monday, 26/08/2026 - 00:41:48 - AM
Universal Entertainment Corp (UEC) plans to strengthen Okada Manila’s mass-market and online gaming businesses after weak casino results weighed on the group’s performance during the first half of 2026.
VIP Weakness Hits Earnings
Okada Manila’s second-quarter gross gaming revenue fell 14.7% year-on-year to PHP6.06 billion (US$98.2 million), while adjusted EBITDA plunged 70.8% to PHP322 million.
The main weakness came from VIP table gaming, where revenue declined 56.2% to PHP1 billion. However, the property recorded encouraging growth in other segments:
- Mass-market table revenue increased 8.5% to PHP2.20 billion.
- Gaming machine revenue rose 2.7% to PHP2.86 billion.
- Visitor numbers grew 4.3% to 1.47 million.
- Hotel occupancy reached 91.4%.
These figures suggest that customer demand remains healthy, but Okada Manila must convert its growing footfall into stronger gaming profits.
Group Performance Supported by Pachislot Business
For the first half of 2026, UEC’s group revenue rose 23.1% to JPY76.57 billion, while operating profit increased sharply to JPY10.22 billion.
The improvement was mainly driven by its Japanese amusement equipment business, where revenue surged 69.1% and operating profit jumped 173.7%.
In contrast, the integrated resort division recorded a 13% revenue decline to JPY30.13 billion and an operating loss of JPY1.37 billion. Its adjusted EBITDA fell 62.5%.
Mass and Digital Become the Recovery Engines
UEC said it is building a broader customer base centred on mass-market players while developing the premium-mass segment to reduce Okada Manila’s dependence on volatile VIP business.
The company is also pursuing an omnichannel strategy connecting its physical resort with Okada Play, the online gaming platform launched with PhilWeb in May.
UEC said the platform is intended to “mitigate the impact of fluctuations in visitor numbers” while helping the resort reach new customer segments.
A More Sustainable Direction
Okada Manila’s recovery may depend less on rebuilding its former VIP volumes and more on extracting greater value from its existing visitors.
Rising mass-table and slot revenue, strong hotel occupancy and online expansion provide a healthier foundation for growth. The challenge will be turning these positive indicators into higher margins while controlling customer-acquisition and operating costs.
If executed well, Okada Manila could evolve from a VIP-dependent casino into a more diversified entertainment and digital gaming business.