63% year-over-year growth in third-quarter gross revenue for Travelers International

The casino complex’s owner and operator, Travellers International Hotel Group Inc, reported third-quarter gross gaming revenue (GGR) of PHP8.0 billion (US$139.5 million), an increase of 63 percent from the same period last year. However, this GGR was down by about 2% from the second quarter of this year. Resorts World Manila was the previous name of Newport World Resorts. In July, a brand-new look was adopted.One of the company’s shareholders, Alliance Global Group Inc., which is listed in Manila, included the Travellers International results in a filing on Monday. The other shareholder is Genting Hong Kong Ltd., which is listed in Hong Kong.

The improvement in overall drops across all gaming segments, as foot traffic increased during the third quarter with operations running at full capacity, according to the parent company, was primarily responsible for the increase in GGR in the three months ending September 30. In the third quarter, net gaming revenue increased by 80% year over year to PHP5.2 billion. Casino Gcash gross gaming revenue (GGR) increased by 77 percent to PHP22.7 billion in the first nine months of 2022. Alliance Global’s filing states that due to increased activity at Newport World Resorts, promotional allowances “expanded” to PHP8.0 billion in the nine months leading up to September, up 65% from the same period last year.

In the first nine months of 2022, non-gaming core revenues from hotels, food, beverages, and other sources increased by 83 percent year over year to PHP3.5 billion. In comparison to a net profit of just over PHP1.86 billion in the same period last year, Travellers International reported a net loss to owners of PHP235 million for the first nine months of 2022. The company had reported PHP5.6 billion in “one-time income” for the comparable period the year before. The Marriott Manila Hotel, Sheraton Manila Hotel, Hilton Manila, Hotel Okura Manila, and Holiday Inn Express Manila are the five international hotel brands currently offered by Newport World Resorts. It became Resorts World Manila in 2009 and was the first of the new generation of large-scale private-sector casino resorts in the Philippine capital. The location is close to Manila International Airport and is connected to it by a passenger bridge.