In the first half of 2025, Universal Entertainment Corp. faced a significant setback as its Philippines integrated resort, Okada Manila, delivered weaker-than-expected results. The company posted net sales of JPY 62.2 billion (US $421 million), reflecting a modest 1.2% decline year-on-year—but more tellingly, the resort itself saw sales drop 16.9% to JPY 34.6 billion, resulting in an operating loss of JPY 1.32 billion (US $8.9 million), in stark contrast to a JPY 3.28 billion (US $22.2 million) profit a year earlier. Adjusted EBITDA for the segment also tumbled by 37.7%.
In the second quarter of 2025, Singapore’s duopoly in the integrated resort (IR) arena—Resorts World Sentosa (RWS) and Marina Bay Sands (MBS)—saw a widening chasm, one that raised eyebrows across the investment community. JP Morgan, in a scathing analysis, highlighted that RWS had slipped to an all-time low market share of just 28%, marking the first time it dropped below 30% in its history of competition with MBS.
This August, Macau’s glitzy Cotai Strip thrives as a booming entertainment hub: casino resorts are set to host 32 arena-based shows, mostly concerts, across a range of world-class venues. While that number is a notch down from July’s 44 performances, the offering remains spectacularly vibrant.
In a strategic move that aligns with its recently enhanced dividend policy, MGM China has declared an interim dividend of HK$0.313 per share for the first half of 2025. This amounts to a substantial HK$1.19 billion (approximately US$152 million) in payouts, representing about 49.9% of its profit attributable to owners—just a hair’s breadth under its new 50% regular dividend policy target.
Genting Singapore, the operator behind Resorts World Sentosa, reported a sharp 34 percent year-on-year decline in net profit for the first half of 2025, bringing earnings down to SGD 234.7 million (approximately USD 173.7 million). Overall revenue dropped 10 percent YoY to SGD 1.21 billion (around USD 888 million), driven by a slump in both gaming and room revenues. Gaming income fell 12 percent to SGD 839.4 million, while room revenue decreased by 19 percent to SGD 98.4 million.
Author: Janice Chew • Monday, 11/08/2025
