Travellers International Hotel Group Inc reported gross gaming revenues at its Manila integrated resort, Newport World Resorts, of Php8.7 billion (US$153 million) in the three months to 30 June 2023, down 2% quarter-on-quarter although 8.2% higher than the same period last year. GGR for the first six months of 2023 was up 20% year-on-year to Php17.6 billion (US$310 million), according to a presentation from parent firm Alliance Global Group.
The improvement was driven by the mass gaming segment, with mass GGR up 3.2% year-on-year and 10% quarter-on-quarter to Php3.7 billion (US$65.2 million) in 2Q23. Likewise, H1 mass gaming revenue was up 43% over the same period in 2022 to Php7.1 billion (US$125 million).
By comparison, VIP GGR in the June quarter was flat year-on-year and down 9% sequentially to Php5.0 billion (US$88 million). For the first six months of 2023, VIP revenue was up 8% to Php10.5 billion (US$185 million).
In the non-gaming segment, revenues fell 15% quarter-on-quarter to Php1.5 billion (US$26.4 million) but increased 43% year-on-year to Php3.3 billion (US$58.1 million). Travellers said this was due to improving hotel occupancy and a significant rise in REVPAR with increased staycations and MICE activities.
2Q EBITDA of Php2.2 billion (US$38.8 million) was up 1% quarter-on-quarter while H1 EBITDA of Php4.3 billion (US$75.8 million) was up 43%.
Travellers is a subsidiary of business magnate Andrew Tan’s Alliance Global Group, which also oversees developer Megaworld, premium spirits producer Emperador and Golden Arches – the master franchise owner of McDonald’s in the Philippines.
