Scientific Game

Travellers profit tumbles into red following RWM attack

Friday, 10 November 2017 04:56
Share
Visit us

Philippines-based Travellers International Hotel Group, the owner and operator of Resorts World Manila, has seen its net profit tumble by 101% and gaming revenue fall 28.9% for the first nine months of 2017 as the fallout from the 2 June arson attack continues to bite.

Travellers reported a net loss of Php36.8 million for the period through 30 September 2017, having recorded a Php2.98 billion profit over the same period in 2016, with gaming revenue falling to Php12.8 billion.

Gross gaming revenues for 3Q17 fell 42.8% from Php6.2 billion to Php3.6 billion, with casino revenue comprising 79.3% of total revenues.

“Due to the June 2 incident, casino operations resumed at the end of June which resulted in lower net revenues for the nine months and three months ended 30 September 2017 compared to the same periods of 2016,” the company said.

The Company’s EBITDA reached Php2.6 billion for the first nine months of the year, down 46.7% from Php4.9 billion for the same period in 2016. EBITDA for the three months ended 30 September fell 78.5% from Php1.9 billion to Php401 million.

What's new

G2E Asia Awards: Meet the Judges – Alidad Tash

G2E Asia Awards: Meet the Judges – Alidad Tash Alidad Tash has been in the gaming industry since 2000, starting on the Las Vegas strip at the Venetian and continuing on to Macau 12 years ago. He was on the opening team at Venetian Macao, the first Cotai property, leading the analytics department. While there, he popularized the now-ubiquitous No... Monday, 23 April 2018 07:13

PhilWeb sees 1Q18 revenue surge 236%

PhilWeb sees 1Q18 revenue surge 236% Philippines gaming services provider PhilWeb Corporation has announced a 236.7% surge in revenue to Php87.8 million for the three months to 31 March 2018. The year-on-year boost follows the renewal of its license by PAGCOR last August after Gregorio Araneta III purchased a 53.75% stake in the compa... Monday, 23 April 2018 07:09

Galaxy’s Philippines partner still buying up Boracay land: report

Galaxy’s Philippines partner still buying up Boracay land: report Galaxy Entertainment Group’s Philippines partner, Leisure and Resorts World Corp (LRWC), is still buying land in Boracay despite recent claims by President Rodrigo Duterte that no new casinos would be built on the holiday island. According to a report by The Philippine Star, Municipal Executive A... Monday, 23 April 2018 07:01

Judiciary Police arrest one, clear junkets over cryptocurrency subscription scheme

Judiciary Police arrest one, clear junkets over cryptocurrency subscription scheme Macau’s Judiciary Police have detained a local man for his involvement in a cryptocurrency subscription allegedly being falsely promoted by Lantai Digital Application Technology. In a media briefing on Friday, a Judiciary Police spokesman confirmed that the man – a 37-year-old named only as Hon... Monday, 23 April 2018 06:25

Current Issue

G2E ASIA AWARDS to debut in 2018

G2E ASIA AWARDS to debut in 2018 Inside Asian Gaming and G2E Asia will co-organize the inaugural G2E Asia Awards in 2018 – the official awards of Asia’s biggest industry  trade show and exhibition, G2E Asia. In an exciting development for the Asian gaming industry, Inside Asian Gaming and G2E Asia announced in March that they... Wednesday, 04 April 2018 14:07

Indian Dreaming: Tiger Palace putting Nepal in the game

Indian Dreaming: Tiger Palace putting Nepal in the game By Ben Blaschke The first integrated resort to be built in South Asia, Tiger Palace Resort in Nepal’s lowland Terai plains sits just eight kilometers from the border with India’s most populous state Uttar Pradesh, home to some 215 million people. At US$52 million it also represents a fascinatin... Wednesday, 04 April 2018 14:12

Digital Danger

Digital Danger As the world becomes increasingly digital, the world’s casino operators are taking cyber security more seriously than ever before. But as leading risk mitigation company Kroll explains, risks remain – and not always where you might expect.  By Ben Blaschke AS cautionary tales go, the downfall... Wednesday, 04 April 2018 14:09

Gaming development outlook along the Belt and Road

Gaming development outlook along the Belt and Road Michael Zhu, SVP of International Planning and Analysis for The Innovation Group, delves into the benefits that Chinese President Xi Jinping’s “One Belt and One Road” initiative will bring to Asia’s gaming industry. By Michael Zhu PRIOR to the current recovery of Macau’s gaming malaise, ... Wednesday, 04 April 2018 14:08