Tourism drop hurts casinos

Japanese gaming firm Universal Entertainment Corp. (UEC) reported on the performance of its Philippine unit that owns Okada Manila, providing a sneak peek into the continued struggle of the Philippine integrated resort (IR) business.

- By JAMES A. LOYOLA

UEC said Okada Manila operator Tiger Resort, Leisure and Entertainment Inc. (TRLEI) reported a 35-percent drop in earnings before interest, taxes, depreciation, and amortization (EBITDA) to P2.93 billion in the first half of 2025 from P4.48 billion in the same period last year.

For the year-to-date results, TRLEI's total revenue amounted to P16.78 billion, 14.34-percent lower than the P19.59 billion registered in the same period of 2024.