According to online gambling reports, Universal Entertainment Corporation expects a decrease in its net income. Also, on aggregate sales for twelve months to the end of the year.
The Japanese-listed firm’s official filing to explain its anticipation of an 18.8% year-on-year decline in annual net income. It is as low as $241.43 million come December 31 alongside around 7.9% fall in total sales, approximately $1.62 billion.
Universal Entertainment Corporation Coronavirus Pandemic Outturn
Universal Entertainment Corporation is formerly known as Aruze Corporation. Also, via its Tiger Resort Leisure and Entertainment Inc are responsible for the giant, Okada Manila integrated casino resort. It was opened in the Philippines’ Entertainment City district in December 2016 as per online casino reviews.
Due to the recent temporary closure of this 993-room venue, the firm, through the update to pronounces its slump is mostly down. It is owing to the ongoing coronavirus pandemic, although the prediction is better than domestic equipment sales.
Furthermore, the Japanese pachinko, slot, and games manufacturer envisage the $2.2 billion Okada Manila development with its casino. It realizes the net income for 2020 of $27.85 million of total sales of about $371.41 million. Moreover, it believes that the Philippines’ government will soon extend its six-week nationwide casino closure order. It is by a further fortnight until the middle of next month.
The filing from Universal Entertainment Corporation following the publication of Okada Manila’s financial results for March. As per sources of the best online casinos in Korea, the facility showed a 54% comparable decline in gross gaming revenues. Also, it is just over $29.79 million as well as an about 148% diminution in adjusted earnings. It is before interest, tax, depreciation, and amortization, bringing to a deficit of around $4.86 million.
The report also shows that the venue’s mass-market gaming flood has hit the hardest. It is with 31-day revenue having plunged by 66.1% year-on-year to roughly $4.74 million.
About Okada Manila
A Manila’s grand icon as it is a 44-hectares of picturesque oceanfront. Okada Manila is Entertainment City’s iconic IR.
Okada Manila’s hotel is a 993-exquisitely spacious room offering views of either the Manila Bay or the Fountain. Its suites and villas create a profound sense of deep relaxation, featuring the unique blend of Japanese hospitality and Filipino warmth.
Its casino offers the most extensive variety of table games and slots in the country. Also, electronic games have the highest jackpots among other casinos in the Philippines.
