Resorts World Manila is an intergrated resort is operated by Travellers International Hotel Group Inc, which is made up of Genting Hong Kong in partnership with Alliance Global Group Inc in Philippines. Ninoy Aquino International Airport in Metro Manila. This resort which opened in 2009 was the first integrated casino resort to open in the country.Resorts World Manila is currently in phase three of its expansion project, with a new Marriot Hotel wing is expected to open in September 2016. The third phase expansion is expected to add more retail outlets and gaming facilities to Manila’s active casino industry. There are also plans for a phase four expansion in the near future.The total number of hotel rooms is currently at 1,226 during the first half of 2016 and with the opening on the new Marriot wing, an additional 228 rooms will be added to the integrated casino resort.
Resorts World Manila (RWM) located in Entertainment City, posted a sharp 49 percent increase in consolidated net revenues, reaching P16.4 billion (US$324.2 million) in 19Q3. Gross gaming revenues increased by 52 percent in the quarter to P20.9 billion, boosted by the sustained recovery in the VIP segment, healthy growth in the mass business, as well […]
Travellers International Hotel Group has been given the green light to delist from the Philippine Stock Exchange on Oct. 21 following a tender offer.
Philippines casino operator Travelers International Hotel Group has obtained majority consent from shareholders to proceed with its delisting from the Philippine Stock Exchange. On Thursday, Travellers told the PSE that a total of 1.3 billion common shares were tendered as at the end of the tender offer period on 23 September 2019. A total of […]
Suncity Group held the soft opening of a new VIP club at Resorts World Manila on August 15.
Travellers International Hotel Group posted an almost 52 percent drop in Q2 net profit as costs rose and a one-time gain reported last year wasn’t repeated, though revenue growth was strong.
Alliance Global CEO Kevin Tan said the group’s Westside City IR will open in 2021 and will boost the company’s revenue share from gaming by almost half to 20 percent.
Alliance Global, the parent company of Travellers International Hotel Group said it is embarking on a five-year digital transformation program to future-proof its businesses, which include real estate, liquor, gaming, hospitality, restaurant, and infrastructure. Alliance Global CEO Kevin Tan said the company will form a core group to “synergize” initiatives. “This program allows us to […]
Travellers International Hotel Group president Kingson Sian is confident that the group will continue tracking double-digit growth after a strong first quarter, local media reports. Mr. Sian made the comments in an interview after the firm’s annual stockholders’ meeting, adding that growth will ride on the expansion of its hotel business as well as its […]
Gross gaming revenue in the Philippines gained 17.4 percent in Q1 to P60 billion ($1.13 billion), with most of the gains driven by casinos in Entertainment City.
Travellers International Hotel Group reported a 46.5 percent gain in net revenue for Q1, helped by gaming and non-gaming activities, though net profit fell as costs rose.
Alliance Global Group Inc on Tuesday announced it is planning to spend P240 billion (US$4.4 billion) over three years to ensure its “organic growth”. AGI said its capex is intended to launch more development projects around the country, including the expansion of its hotel and integrated resorts operations, among others. “We are mindful of the […]
Travellers International Hotel Group, the company operating Resorts World Manila in partnership with Genting Hong Kong, reported a 352.5 percent rise in net profit for the six months ended June 30, 2018, reaching P1.7 billion (US$31.8 million). Company EBITDA for the six months amounted to P1.6 billion, down 28.2 percent from P2.2 billion in the […]
Alliance Global, owners of Resorts World Manila, has announced Kevin Tan its new chief executive officer, replacing his father, Andrew Tan. Dr. Tan, who steps down from his role as CEO but will remain as chairman of the board of directors. “Kevin’s vast exposure and professional experience in the various companies under Alliance Global Group […]
Travellers International Hotel Group, owner and operator of Resorts World Manila, saw its net profit fall 35.2 percent in 18Q1, reaching P444 million (US$8.5 million). The company is a joint venture company between Philippines’ Alliance Global Group and Genting Hong Kong Limited. Revenue for the group fell 14.8 percent in the quarter to P4.5 billion, […]
Travellers International Hotel Group, Inc., owner and operator of Resorts World Manila (RWM), saw a decline in net revenue and profits for the year ended December 31, 2017. Net revenues declined to P19.3 billion (US$369.2 million) in the year, due mainly to a nearly month-long closure of the gaming area after the lone gunman attack […]
Malaysia’s Genting Group is planning an integrated resort on Boracay island at the Savoy Hotel, Philippine Amusement and Gaming Corp Chair Andrea Domingo told reporters at the ASEAN Gaming Summit. She said the project, which will be a venture with tycoon Andrew Tan, was in the works before President Rodrigo Duterte took office. “This one […]
Philippine casino operator Travellers International Hotel Group has announced it has formalized an agreement with Hotel Okura Co., Ltd for it to operate a new 191-room hotel at Resorts World Manila. The new hotel, named Hotel Okura Manila, is set for a soft launch for the fourth quarter of 2018, and will join the roster […]
Bloomberry Resorts would see its debt levels rise and a reduction in return on invested capital in the short term if it buys the land on which its Solaire Resort & Casino is based, though longer term it may improve valuations, according to Morgan Stanley. Market regulator, the Philippine Amusement & Gaming Corp., earlier this […]
The owners of Resorts World Manila is planning to introduce the country’s first Ritz Carlton Hotel by redeveloping its Maxims Hotel, local media reports. According to sources, real-estate mogul Andrew Tan, chairman and CEO of Alliance Global, the company that partially owns Travellers International Hotel Group, deemed it to be the right time for the […]
The Asian Poker Tour (APT) has announced it has signed a new three-year exclusive agreement to run its tournaments at Resorts World Manila. APT and Resorts World Manila’s partnership first dates back to 2010. Since that time, APT has held 18 international poker events at RWM including the monumental APT-RWM Iron Man Poker Challenge back […]
Philippines-listed Travellers International, operator of Resorts World Manila, reported a loss of P407.9 million for the third quarter of 2017. The company said the deadly casino attack in June continued to weigh down results. Gross gaming revenues amounted to P3.6 billion in 17Q3, down 42.8 percent from P6.2 billion in 16Q3. EBITDA amounted to P401.3 […]
Alliance Global, owner and operator of Resorts World Manila, said it is seeing signs of recovery following the casino attack in June that left 38 people dead, reports Rappler. “I think the proof is in the numbers and you can see the traffic coming back. It is averaging 26,000 people a day from the previous […]
Philippines pop-star turned government worker Esther Margaux “Mocha” Uson is being investigated for performing in casinos despite a prohibition that restricts government employees from entering gaming venues. The Presidential Communications Operations Office told local reporters that it was looking into reports that the Assistant Secretary, who is also the lead singer of Mocha Girls, was […]
Travellers International Hotel Group reported a lower-than-expected profit for the first half of 2017 after a June 2 attack shut down gaming operations at Resorts World Manila. The company reported net profit of P373 million in the first half of 2017, down 79.2 percent compared to P1.8 billion in 16H1. Net revenues for the six […]
The Philippine Amusement and Gaming Corp. has cut its forecasts for 2017 gross gambling revenue, in part because of the June attack on Resorts World Manila. Pagcor Chair Andrea Domingo told the Inquirer newspaper that the regulator expects to bring in about PHP150 billion ($2.98 billion) this year, down from her March forecast of about […]
Resorts World Manila, which was attacked by a lone gunman last month, is planning to build a new gaming zone and win back the trust of its customers. “We’re spending a lot of time enhancing the overall security of the place and learning about what had happened,” said Kingson Sian, CEO of Travellers International Hotel […]
Police authorities in Manila are preparing to file criminal charges against the management of Resorts World and its security agency for the deaths of 37 people during the attack on June 2, The Manila News reports. Lone gunman Jesse Carlos rampaged the second floor of the casino resort, leading to the indirect deaths of 13 […]
Resorts World Manila on Thursday was given permission to resume its gaming operations after complying with security and safety requirements imposed by the Philippine Amusement and Gaming Corporation, local media reports. The decision came after the casino operator presented its Casino Security Protective Action Plans to Pagcor. In a statement from Pagcor on Thursday, the […]
Gaming regulator Philippine Gaming and Amusement Corp. (Pagcor) has indicated that it intends to lift the suspension on Resorts World Manila’s gaming license soon, Philstar reports. On Wednesday, Pagcor chair Andrea Domingo told lawmakers that Resorts World president Kingson Sian had verbally conveyed to her the integrated resort’s desire to have its casino license reinstated […]
Travellers International Hotel Group chairman David Chua Ming Huat is asking the government for permission to resume operations after its license was suspended following the casino attack at Resorts World Manila on June 2. On June 9, Resorts World was ordered to “cease and desist all gaming operations pending investigation and final determination by PAGCOR […]
Travellers International Hotel Group says it is planning to reopen the non-gaming areas of the Resorts World Manila complex on Thursday. The non-gaming areas in question include the Mall, Cinema and the Newport Performing Arts Theatre, according to a filing from the operator on Wednesday. The Remington Hotel, Star Cruises Center, Marriott Hotel and Marriott […]
The operator of Resorts World Manila on Tuesday said it will exert all efforts to “preserve and defend” the company’s provisional license, following Pagcor’s announcement last Friday. Last week, the Philippine Amusement and Gaming Corporation (Pagcor) ordered the suspension of all gaming facilities and activities of Resorts World Manila, pending its investigation into RWM’s liability […]
The Philippine Amusement and Gaming Corporation (PAGCOR) is due to deliberate on what sanctions will be imposed against Resorts World Manila following last week’s casino attack. The incident at RWM involving a lone gunman claimed the lives of 38 individuals and wounded 54 people last week. The regulator said that, prior to the incident, it […]
The Philippine Amusement and Gaming Corporation (Pagcor) has ordered Resorts World Manila to cease all gaming operations pending the results of the investigation of the casino attack involving a lone gunman last week. Resorts World is owned by Travellers International Hotel Group Inc, a joint venture of the Philippines’ Alliance Global Group Inc and Genting […]
The Philippines continues to grapple with the fallout from the attack on Resorts World Manila, with lawmakers threatening a bill that would strip the Philippine Amusement and Gaming Corporation (Pagcor) of its power to grant licenses to casinos, local media reports. An indebted problem gambler was responsible for the attack, which left 37 people dead. […]
The Philippine National Police (PNP) has found lapses in the security of Resorts World Manila during the casino attack last Friday that led to the death of 38 persons, Philstar reports. Chief Supt. Jose Mario Espino, head of the PNP Supervisory Office for Security and Investigation Agency said security at the casino failed to execute […]
Macau’s casino operators have been asked to step up their security following the botched robbery at Resorts World Manila on Friday that left more than 30 dead, local media reports. On Sunday, an emergency meeting was held between Macau’s six concessionaires, the Gaming Inspection and Coordination Bureau (DICJ) and the Judiciary Police to discuss casino […]
The Philippine Amusement and Gaming Corporation (Pagcor) says it will be investigating possible security lapses at Resorts World Manila that may have led to the casino attack that left 38 dead last Friday, Philstar reports. The gaming regulator said it will be reviewing whether there was leniency, negligence or laxity in security on the part […]
The chief operating officer of Resorts World Manila says the company will be giving up to P1 million (US$20,260) to each of the families of those who were killed in Friday’s casino attack, local media reports. Stephen Reilly made the announcement to journalists in Manila on Sunday. The Philippine police have identified the lone gunman […]
Philippine police have named the man behind an attack on Resorts World Manila last week that killed 37 people as Jessie Carlos Javier, a problem gambler with high debts. He was separated from his wife and had been laid off from his job, CNN reported. He had also been excluded from entering all casinos at […]
At least 34 people are now known to have died in an attack on the Resorts World Manila casino by what is thought to have been a lone gunman. Most of the dead suffocated in thick toxic smoke after the man set fire to casino tables, the BBC reported. The gunman, whose nationality is not […]
Travellers International Hotel Group, the operator of Resorts World Manila in the Philippines, reported higher revenue and EBITDA for 2016, driven by income from hotels, theatres and retail operations. Net revenue for the year increased by 2 percent to P25.09 billion ($499 million). Gross gaming revenue dropped 2.3 percent to P23.65 billion, due to a […]
Philippines-listed Travellers International Hotel Group, operators of Resorts World Manila, says it had disbursed the last of the proceeds from its 2013 IPO in the fourth quarter of 2016. In May 2013, the firm listed 1.6 billion common shares on the stock exchange, raising a total of P16.8 billion. According to the firm’s recent filing […]
Philippines-based Resorts World Manila (RWM) is working with the local government to establish a treatment and rehabilitation center for drug dependents in the Southern Philippines, local media reports. Working with the Philippine Amusement and Gaming Corporation (PAGCOR), Department of Health (DOH), and the Davao City Government, the groundbreaking and capsule laying ceremony was held recently […]
A bridge linking the Aquino International Airport to the casino and hotel complex at Resorts World Manila is expected to create strong synergies for the operator, local media reports. The bridge, dubbed “Runway Manila” is built by Travellers International Hotel Group, the operator of Resorts World Manila. The structure will rise 18 meters above Andrews […]
Total gross gaming revenue in the Philippines jumped 11.2 percent in Q3, led by higher revenue from casinos in Entertainment City. According to figures from regulator, the Philippine Amusement and Gaming Corp., revenue from casinos and electronic gaming sites came in at PHP39.74 billion ($807.2 million). Revenue generated from e-gaming sites was PHP5.57 billion, a […]
Travellers International Hotel Group Inc., the operator of Resorts World Manila, has posted a 153 percent year-on-year rise in net income for the third quarter of 2016, helped by higher volumes in all operating segments. The firm reported net income of P1.2 billion (US$24 million) in 16Q3, compared to net income of P467.1 million in […]
Philippines’ gross gaming revenue in July has continued to improve, with the strong trend appearing sustainable until year end, said Maybank in a note on Tuesday. According to the brokerage, gross gaming revenue for Entertainment City casinos, including Resorts World, Solaire and City of Dreams Manila grew at 38 percent year-on-year in 16Q2, ahead of […]
Philippine gross gaming revenue rose 23 percent in July compared with the same month a year earlier, with solid growth in mass, said CLSA analyst Marcus Liu in a note on Friday. The results were a dip from June, which marked the region’s third consecutive month of all-time highs. The results were still strong though, […]
Philippines-listed Travellers International Hotel Group has announced it has completed the investment of the proceeds of its initial public offering, which has financed the phase two and three expansion of Resorts World Manila. According to a filing to the Philippine Stock Exchange on Monday, the company said it has allocated approximately PHP 7 billion (US$149.7 […]
Philippines-listed Travellers International Hotel Group Inc. said it may move the opening date of its $1.1 billion West Side City Resorts World in Entertainment City, local media reports. Travelers president Kingson Sian said the opening date may be moved to 2020 or 2021, instead of its original schedule of 2018, due to the current oversupply […]
Travellers International Hotel Group Inc. said it will be spending up to P10 billion (US$216.9 million) this year for the construction of Phase 3 of Resorts World Manila, local media reports. “The combined cost for Phase 2 and Phase 3 is around $400 to $450 million. So, the P8-P10 billion capex will be for the […]
Travellers International Hotel Group, owner and operator of Resorts World Manila reported net income at PHP 1.2 billion (US$24.9 million) for 16Q1, down 33.5 percent year on year. Revenues amounted to PHP 6.6 billion for the three months ended March 31, 2016, compared to PHP 7.6 billion for the same period in 2015. Gross gaming revenue […]
Travellers International Hotel Group, owner and operator of Resorts World Manila, has reported a decline in net profit to P4 billion (US$86.4 million) in 2015 from P5.4 billion in 2014, according to a recent submission to the Philippine Stock Exchange. The operator, which is owned 44.9 percent by Genting HK, reported net revenue at P24.6 […]
A total of PHP6.3 billion ($US 131.8 million) of the initial public offering of PHP 7.0 billion allocated for phase two expansion of Resorts World Manila has been spent as of the end of Y15Q4, according to a progress reports from the Philippines casino operator. As of Dec, 31, 2015, PHP6.3 billion ($US 131.8 million) […]
In a recent report by First Metro Investment Corp, the Philippine gaming market is expected to continue its decline, in line with the slowdown of gaming activities in Macau. In a report, FMIC said the Philippine gaming market is still highly correlated to the gaming market in Macau. “Listed Philippine casino and hotel operators have […]
Travellers International, which operates Resorts World Manila, reported gaming revenue of P5.43 billion for the third quarter of 2015 compared with P7.21 billion ($153.4 million) in 14Q3. The company’s net profit for the period amounted to P465.9 million down sharply from P1.13 billion year-on-year. Year-to-date net profit was P2.82 billion compared with P4.01 billion in […]
Travellers International Hotel Group Inc announced on the stock exchange that it has so far put aside about PHP10.86 billion ($236 million) of the proceeds from an initial public offering to fund the expansion of Resorts World Manila. The company, which is engaged in principally the casino and hotel business, invested PHP2.05 billion in 15Q3 […]
Morgan Stanley analysts have reduced their 2016 gross gaming revenue assumptions for the Philippines casino market to $1.6 billion, representing growth of 8 percent year-on-year, compared to previous estimates of $1.7 billion. Excluding City of Dreams Manila, which was in the initial stages of opening in 2015, “same-store sales growth” for Resorts World Manila and […]
Travellers International, which operates Resorts World Manila, said its gaming base could hit the three-million mark by the end of the year, local media reported. “We have 2.7 million members for Resorts World, it was very clear that we had to expand through our database. It’s very important to develop not just the gaming but […]
The Philippine Amusement and Gaming Corp. boss said he is not worried about the recent poor financial performances of Philippine casinos, saying it has “nothing to do with gaming behavior.” After Bloomberry Resorts Corp, which operates Manila’s Solaire Resort and Casino, reported a net loss in 15Q2 of PHP773.54 million ($16.75 million), and Travellers International, […]
Travellers International, which operates Resorts World Manila, announced that net revenues declined by 13.5 percent due to lower gaming revenues, which amounted to P12.5 billion ($270.4 million) for the six months ended June 30, 2015. Despite average daily property visits increasing by 5.5 percent, or 19,718 visits, in the first half of 2015 from 18,698 […]
Travellers International announced details of how it will allocate funds from its 2013 Initial Public Offering to expand its Resorts World Manila property. On November 5, 2013, the company sold through an Initial Public Offering an additional 1,573,222,300 common shares generating net proceeds of PHP16.5 billion ($364.4 million). A month later the company also generated […]
Philippine casino stocks are among the worst-performing so far this year as an expected influx of Chinese visitors has failed to materialize, Bloomberg reports. Shares of Bloomberry Resorts, which operates the Solaire Resort & Casino, have lost 27 percent this year, and Resorts World Manila operator Travellers International Hotel Group Inc. has slumped 35 percent. […]
At press conference held on Tuesday May 12, 2015 in Macau, the All Asia Dealers Championship (AADC), taking place concurrently with G2E Asia 2015 and hosted by Asia Gaming Brief and Reed Exhibitions, announced the details of the competition. In all, fourteen teams, totaling over 50 Dealers, from Macau and across Asia have already confirmed […]
Andrew Tan, the Filipino tycoon, whose businesses include Resorts World Manila and McDonalds, graced the front cover of the first Forbes Philippines edition. Tan, who is the fourth richest Filipino and ranked 330th in the world, has an estimated net worth of $4.8 billion. His businesses include property, liquor, fast food and the hotel and […]
Travellers International Hotel Group said as of the end of December, it has spent PHP3.3 billion pesos ($74 million) from the PHP16.8 billion raised through a recent share sale on the Phase 2 expansion program of its Resorts World Manila property. The Phase 2 expansion program includes the construction of the Marriott Grand Ballroom with […]
The deadly attack on Resorts World Manila (RWM) last year was a wake-up call for casino resorts in the Philippines and across the wider region, leading to calls to improve security and properly assess the risks facing each jurisdiction. There is no one-size fits all solution, therefore security experts say a clear understanding of the potential threats is key.
Resorts World Manila (RWM) was the first integrated resort (IR) to open in the Philippines and is the only one not located in Entertainment City, but opposite the country’s primary international airport. The property is currently in the third phase of its expansion, which will consist of a further three hotels, more gaming and other amenities, and is scheduled to be completed by 2018. Chief Operating Officer Stephen Reilly tells AGB about recovery from a deadly attack last year and how the resort fosters a loyal local base.
Casino operators in the Philippines have been attending workshops on how to comply with the country’s new anti-money laundering regulations, though some industry experts say the rules are still are not strong enough. The reporting thresholds are similar to Macau, and some say that's too high for the market.
Filipinos’ well known love for entertainment means the country’s casinos may see significant upside from their non-gaming attractions if they get the mix right, giving Macau a run for its money when it comes to creating a diversified entertainment hub in Asia. Morgan Stanley estimates non-gaming may account for 20 percent of what it projects will be a $5 billion market by 2020.
Asia’s gaming markets have seen a strong first half, with Macau, the Philippines and Cambodia leading the way, prompting some analysts to revise upwards their targets for the full year. But it hasn’t all been plain sailing; the fatal attack on Resorts World Manila lead to a suspension of its gambling operations in June, while South Korea continues to underperform after a diplomatic spat with China, which banned tour groups after Seoul agreed to deploy a U.S. missile shield.
The attack on Resorts World Manila, a likely public smoking ban and a proposed casino entry fee are putting pressure on the Philippine gambling industry. It was the best-performing in Asia last year and tipped again for strong growth, but smoking bans have never been known to produce a positive effect on revenue, while the attack hits a country that has long struggled with the perception it is not safe.
The Philippines, tipped at the beginning of the year to be the region’s best-performing gambling market, is still likely to outperform its peers despite heavy second-quarter losses among operators, slumping stocks and ongoing project delays, analysts say.Manila’s Entertainment City gaming hub had been expected to be a key beneficiary from the VIP exodus from Macau, however, losses across the industry mounted in Q2, with JP Morgan predicting in a June report that profit across the sector would be down 56 percent this year.
As VIP revenue from China’s high rollers continues to slump, Malaysia’s Genting Group is seeking to carve a niche for itself by targeting the more profitable premium mass segment across its Asian properties.The conglomerate has aggressively embarked on a slew of facelifts or new projects, such as launching new hotels and gaming floors across various properties, in a move to woo the premium mass gambler.
The Philippine gaming market is expected to be one of the fastest growing in Asia this year, though early signs of cannibalization amongst newly opened resorts has led to some concern the market may not be deep enough to support the planned multi-billion properties.