Content Writer: Janice Chew • Thursday, 26/01/2026 - 00:02:08 - AM
Okada Manila’s casino performance in the fourth quarter of 2025 showed a significant decline in gross gaming revenue (GGR) compared with the year-earlier period, highlighting ongoing operational challenges at the integrated resort in the Philippines’ Entertainment City. According to a recent filing from the property’s operator Tiger Resort, Leisure and Entertainment Inc, Okada Manila recorded just under PHP 5.93 billion (US $99.7 million) in casino GGR for the October–December quarter — representing a 34 % drop year-on-year. This quarterly downturn marked continued pressure across both VIP and mass gaming segments.
The decrease was especially pronounced in the VIP segment, where revenue plunged sharply compared with the comparable period in 2024, while mass-market table games and gaming machine revenue were also lower. Non-gaming revenue in the three months to the end of 2025 dipped modestly, underscoring an overall downturn in resort activity relative to the prior year. Adjusted segmental earnings before interest, taxes, depreciation and amortisation (EBITDA) also collapsed, underscoring the revenue challenges facing the integrated resort.
Okada Manila’s results echo broader trends seen in earlier quarters of 2025, where the property experienced year-on-year declines in GGR earlier in the year, driven by weak VIP play and competitive pressures within the Philippines casino market. Analysts have pointed to factors including reduced key inbound tourist flows and a challenging VIP environment as contributors to the revenue slump. The performance reflects the resort’s struggle to regain momentum after multiple consecutive quarterly downturns.
