Okada Manila GGR falls 54 percent on mid-March suspension

Universal Entertainment reported on Wednesday that GGR at its Okada Manila IR fell by more than 54 percent year-on-year last month as a result of the March 15 suspension of business.

Total GGR came in at more than PHP1.5 billion (US$30 million). Adjusted EBITDA was recorded at a PHP248 million loss for the month of March.

In a statement to JASDAQ, Universal Entertainment noted that their basic premise at this time was that the Philippine government would be announcing a further extension of the lockdown until mid-May and that Okada Manila will be closed for a two-month period in total.

To date, Philippine President Rodrigo Duterte has announced an extension of the lockdown of the island of Luzon, which includes the Metro Manila region, through to April 30.