• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 13 August 2022
    • 中文
    • 日本語
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Resorts World Manila sees 53% fall in GGR in 1H20

Newsdesk by Newsdesk
Sun 16 Aug 2020 at 11:48
New gaming space sees GGR soar at Resorts World Manila in 1H19

Resorts World Manila

57
SHARES
1.3k
VIEWS
Print Friendly, PDF & Email

Travellers International Hotel Group, Inc, the operating entity of Resorts World Manila, reported a 53% decline in gross revenues for the first six months of 2020, including a greater than 50% fall in GGR to Php6.1 billion (US$125.2 million).

The figures formed part of an update from Alliance Global Group (AGI), the Philippines conglomerate that holds a 50% stake in Travellers, as part of its own 1H20 earnings release.

While AGI reported a group-wide net profit of Php4.1 billion (US$84.1 million) through 30 June 2020, RWM recorded a Php3.7 billion (US$75.9 million) net loss – down from a profit of Php845 million (US$17.3 million) during the first six months of 2019.

“The ongoing community quarantine, which put a temporary halt in casino gaming operations, has taken its toll on Travellers International,” AGI said.

“Gross gaming revenues were more than halved to Php6.1 billion while its non-gaming revenues fell 44% to Php1.7 billion (US$34.9 million), the latter due to limited hotel operations and MICE activities.

“Overall gross revenues plunged 53% year-on-year to Php7.8 billion (US$160.1 million).”

Travellers, a joint venture partnership between AGI and Genting Hong Kong, delisted from the Philippine Stock Exchange last October and no longer publicly releases earnings reports.

However, AGI had previously revealed a 38% increase in GGR at RWM in 2019 to Php27.6 billion (US$552 million), which it attributed to “faster recovery in its VIP segment, overall improvement in volume and hold rates, and record level foot traffic to the complex.”

Casinos in Manila have remained closed since 15 March 2020 due to community quarantine orders, although PAGCOR recently confirmed to Inside Asian Gaming that some limited dry run operations had been permitted at RWM, Solaire, Okada Manila and City of Dreams Manila while “gaming machines, processes, digital applications (old and new) and other operational systems are being tested.”

RelatedPosts

Okada Manila operator Tiger Resort, Leisure and Entertainment to go public in 2019

Kazuo Okada claims son “manipulated” into turning against him

Wed 10 Aug 2022 at 03:38
We’re Back!

Solaire surge sees Bloomberry Resorts Corp revenue up 131% year-on-year in Q2

Mon 8 Aug 2022 at 12:41
We’re Back!

Okada Manila owners looking to block Kazuo Okada-group access to casino cage funds

Fri 5 Aug 2022 at 07:05
City of Dreams Manila named Gala Dinner Venue Sponsor as 2022 Asian Gaming Power 50 celebrates 15th year by relocating to the Philippines

City of Dreams Manila named Gala Dinner Venue Sponsor as 2022 Asian Gaming Power 50 celebrates 15th year by relocating to the Philippines

Thu 4 Aug 2022 at 10:14
Load More
Tags: AGIAlliance Global GroupGenting Hong KongPAGCORPhilippinesResorts World ManilaTravellers International Hotel Group
Share26Share4
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial: Silver linings

Editorial: Silver linings

by Ben Blaschke
Thu 28 Jul 2022 at 22:31

Given the extensive coverage of Macau’s COVID-induced woes of late, it would be easy to fall into the trap of...

Macau has fallen

Macau has fallen

by Andrew W Scott
Thu 28 Jul 2022 at 21:02

It’s official: Macau is no longer the center of the casino gaming universe. The Macau dream is over – for...

Back with a bang

Back with a bang

by Ben Blaschke
Thu 28 Jul 2022 at 20:39

Having set new attendance records each and every year since relocating to ICC Sydney in 2017, the Australasian Gaming Expo...

Singapore sling

Singapore sling

by Ben Blaschke
Thu 28 Jul 2022 at 20:28

G2E Asia is back in 2022 and headed to a brand new home, albeit planned to be a temporary one,...

Related Posts

Damage Control – Korea’s COVID calamity

Mass gaming guides strong recovery for Korea’s Kangwon Land in Q2

by Newsdesk
Sat 13 Aug 2022 at 15:15

Kangwon Land, the only casino in South Korea at which locals are allowed to gamble, roared back to life in the three months to 30 June 2022, led by impressive business volumes in its mass gaming segment. Gross gaming revenue...

Return of Australasian Gaming Expo sees more than 7,300 delegates take part

Return of Australasian Gaming Expo sees more than 7,300 delegates take part

by Newsdesk
Sat 13 Aug 2022 at 13:18

More than 7,300 delegates took part in the Australasian Gaming Expo as the show last week returned to ICC Sydney for the first time in three years. Featuring over 220 exhibitors across 9,000 square meters of exhibition space, AGE 2022...

Higher VIP roll, strong hold drive 15% growth for Genting Singapore in 4Q18

Genting Singapore on the rise in 2Q22 but RWS manpower shortages limiting recovery

by Ben Blaschke
Sat 13 Aug 2022 at 12:58

A lack of manpower to fulfil growing demand is limiting Genting Singapore’s recovery from the COVID-19 pandemic, despite the company on Friday reporting strong revenue and profit increases in the three months to 30 June 2022. Q2 revenue at Resorts...

Concessionaires can open “special accounts” for gaming customers

Concessionaires can open “special accounts” for gaming customers

by Pierce Chan
Fri 12 Aug 2022 at 19:50

The chairman of the second standing committee of the Legislative Assembly, Chan Chak Mo, has said that the concessionaires can open a “special account” for gaming customers, but such accounts cannot have earn any interest. After a three-month delay, the...


IAG

© 2005-2022
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Consulting
  • Magazines
  • Advertise
  • Contact
  • About

© 2005-2022
Inside Asian Gaming.
All rights reserved.