Tiger Resort, Leisure and Entertainment, Inc. (TRLEI), the operator of Okada Manila, has announced a major leadership change. Current President and Chief Operating Officer Byron Yip will step down after seven years in the role. He will remain with the company until September, continuing to oversee daily operations and assist in a smooth handover.
Okada Manila Names New President and COO as Leadership Transition Begins
Extensive Industry and Leadership Experience
Sato brings over two decades of leadership experience in hospitality, finance, and strategic operations. He has held multiple senior roles within UEC and has contributed to TRLEI’s governance through his board position.
Recognizing Byron Yip’s Tenure
TRLEI credited Yip with playing a pivotal role in establishing Okada Manila as a premier integrated resort destination in the region. Under his leadership, the property earned the prestigious Forbes Five-Star Award for six consecutive years — the largest integrated resort in the Philippines to achieve this recognition. Yip also oversaw several significant expansion initiatives.
“We are deeply grateful for Byron’s contributions and are pleased he will assist with the transition. We are confident Nobuki Sato’s operational and financial expertise will guide Okada Manila into its next phase of strategic growth and innovation,” the company stated.
Transition Comes Amid Mixed Business Results
The leadership change follows TRLEI’s release of its Q2 2025 results, which showed a 19.63% year-on-year decline in gross gaming revenue (GGR) to PHP 7.1 billion (USD 125.3 million).
- VIP gaming: Turnover fell to PHP 52.42 billion (USD 925.3 million) from PHP 78.47 billion (USD 1.38 billion) in the same quarter of 2024, with revenue down 21% to PHP 2.29 billion (USD 40.42 million).
- Mass market table games: Revenue dropped 31% to PHP 2.02 billion (USD 35.66 million).
- Electronic gaming machines: Revenue slipped 6.3% to PHP 2.78 billion (USD 49.10 million).
- Non-gaming revenue (hotels, F&B, retail, entertainment) declined 7.47% to PHP 929 million (USD 16.4 million).
Total revenue for the quarter was PHP 8.03 billion (USD 141.76 million), down 18.38% from the previous year.
Despite the downturn in gaming and non-gaming revenues, Okada Manila reported an increase in hotel occupancy, averaging 86% compared to 78.9% a year earlier. Visitor numbers reached 1.41 million, only slightly below the 1.44 million recorded in Q2 2024.
Looking Ahead
TRLEI said the appointment of Sato is aimed at steadying operations and positioning the resort for future growth. The company expects his combined operational and financial expertise to help navigate current market challenges while advancing long-term strategic objectives.
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