The month-to-month results of Okada Manila are starting to look really strong, but in 2018, they were still a year of investment. As a result, Okada has announced that they ended 2018 with an operational loss of JPY6.21 billion ($55.6 million).

That wasn’t due to any lack of revenue though. They brought in JPY48.94 billion ($44 million) for the year, the operator Universal Entertainment Corp revealed to Jasdaq on April 26. They also announced adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) of approximately JPY4.09 billion ($37 million) for the year, and it increased throughout.

“Okada Manila… increased net sales by the expansion of facilities such as hotel rooms and restaurants as well as by the grand opening of the VIP casino areas, addition of junkets and implementation of a mass market casino marketing programme,” they wrote.

Hotel bookings were high, with 98.3% occupancy for the year. Gross gaming revenue (GGR) wasn’t shabby either, with $522 million brought in by the casino.