Tiger Resort, Leisure and Entertainment, operator of Okada Manila, reported weaker financial results for the second quarter of fiscal 2026. The decline came as lower gaming revenue offset stronger hotel performance and higher visitor numbers.
Total revenue declined to PHP 6.99bn from PHP 8.03bn in the second quarter of fiscal 2025. Gross gaming revenue also fell 14.6% year-on-year to PHP 6.06bn, while adjusted segment EBITDA dropped sharply to PHP 333m, compared with PHP 1.15bn in the same period last year.
The decline was primarily driven by softer VIP gaming activity. VIP rolling chip volume fell 22.9% year-on-year to PHP 40.6bn, down from PHP 52.4bn. VIP gaming revenue also more than halved to PHP 1bn, with the rolling chip win rate declining from 4.4% to 2.5%.
Mass market gaming also recorded weaker results. Revenue from live table games decreased 8.2% to PHP 2.20bn, while gaming machine revenue slipped 2.6% to PHP 2.86bn. Although gaming machine handle increased to PHP 50.7bn, the win rate eased to 5.6%, compared with 6% a year earlier. Revenue from online mass table games remained modest at PHP 45m, broadly in line with the prior year.
Outside the casino, non-gaming revenue was largely unchanged at PHP 928m. Hotel operations showed resilience, with occupancy improving to 91.4% from 86%, while average daily room rate increased to PHP 10,111 from PHP 9,820. Revenue per available room also rose to PHP 9,242, compared with PHP 8,447 a year earlier. Property visitation increased 4.3% year-on-year to 1.47 million visitors.
For the first six months of fiscal 2026, total revenue stood at PHP 14.4bn, down from PHP 16.8bn in the same period last year. Gross gaming revenue declined to PHP 12.5bn from PHP 14.9bn, while adjusted EBITDA fell to PHP 1.2bn, compared with PHP 2.9bn in the first half of fiscal 2025.
The figures are preliminary second-quarter results released by Tiger Resort, Leisure and Entertainment, the operator of Okada Manila
