Expansion a priority in Manila
Japanese gaming operator Universal Entertainment Group will take its wholly-owned subsidiary Tiger Resort, Leisure and Entertainment, Inc. public in 2019. Tiger runs Okada Manila, which opened in December 2016 in Manila’s Entertainment City district, which is also the home of Bloomberry’s Solaire Resort & Casino and Melco Resorts & Entertainment’s City of Dreams Manila complex.
Universal made the announcement as part of its first-half earnings report on August 9. It said TRLEI will go public in order to “accelerate its growth and raise its name recognition,” reported Inside Asian Gaming. Universal said it views the expansion of Okada Manila as “the highest priority.”
“In the third quarter, operations will begin at a Chinese restaurant called Yu Lei, which has a restaurant in Hong Kong that received a Michelin star,” the company statement said. “In addition, work will continue on the expansion of hotel guest rooms and the shopping area.
“To increase earnings from the mass market, there will be more non-gaming facilities and services that match customers’ needs. In the VIP casino, operations are benefiting from the full-scale operations of current junkets. In addition, Okada Manila plans to start initiatives to attract an even larger number of VIPs from other countries. Plans include strengthening the international marketing, opening sales offices in strategic countries and adding and enhancing amenities that position Okada Manila as an integrated resort.
“In Okada Manila’s hotel, the opening of all rooms in tower A is now in sight. This will better position the resort to host tour groups from other countries and expand banquet package plans for corporate events, conferences and weddings. These activities are expected to lead to higher earnings for non-gaming business.
These actions “will more clearly differentiate Okada Manila in terms of the scale of facilities and the quality of services,” the statement concluded. “Activities will continue in order to make this resort more competitive as one of the world’s leading entertainment resorts with amenities capable of meeting the needs of a diverse array of guests.”
Tiger Resort reported net sales of JPY21.6 billion (US$194.3 million) in the first six months of the year, with sales up from JPY8.9 billion in the first quarter to JPY12.7 billion in the second quarter. Operating losses increased to JPY1.6 billion in the second quarter primarily because of an increase of depreciation, the company said.
