Travellers International Hotel Group, Inc. (RWM) was incorporated on December 17, 2003 primarily to engage in the business of hotels, restaurants, leisure parks, entertainment centers and other related businesses, which include holding investments in and operating casinos and other gaming activities as part of its main operations. RWM is a joint venture partnership between Alliance Global Group Inc. and Genting Hong Kong Limited.The Company is the developer and operator of Resorts World Manila that combines privately-opened gaming facilities with hotel, retail, dining, entertainment and other leisure amenities. The Company’s casinos and restaurants in Resorts World Manila started commercial operations on August 28, 2009 while the hotel and restaurant operations in Maxims Manila Hotel, Marriott Hotel Manila and Remington Hotel started on various dates in 2009 to 2011. The Company engages in casino operations under the provisional license agreement with the Philippine Amusement and Gaming Corporation dated June 2, 2008.As of December 31, 2015, RWM holds interest in 29 wholly-owned subsidiaries and two associates. These companies were established to engage in businesses related to the main business of RWM.
Mr. Kingson Sian is a Director and the President of Travellers International Hotel Group, Inc. (TIHGI.) Mr. Sian has also been President and Director of Alliance Global Group, Inc. (AGI) since February 2007. He is currently a member and executive director of Megaworld Corporation. Mr. Sian is concurrently Director and President of Forbes Town Properties & Holdings, Inc. and also Chairman and President of Prestige Hotels & Resorts, Inc. Mr. Sian was formerly a Vice President of FPB Asia Ltd/First Pacific Bank in Hong Kong from 1990 to 1995 and was with Citicorp Real Estate, Inc. in the United States from 1988 to 1990.He graduated from the University of the Philippines with a Bachelor of Science degree in Business Economics and has a Masters Degree in Business Administration for Finance and Business Policy from the University of Chicago.
Resorts World Philippines Cultural Heritage Foundation, Inc. (RWPCHFI) on Sunday completed its P50 million (US$985,127) commitment to aid the government’s COVID-19 relief efforts. According to a press release, Resorts World Philippines distributed medical supplies to representatives of 12 Metro Manila hospitals in coordination with PAGCOR. RWPCHFI, the charitable arm of Travellers International Hotel Groups, Inc. […]
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 […]
Travellers International Hotel Group began its tender offer to public shareholders on Monday, with the aim of delisting from the Philippine Stock Exchange.
Travellers International Hotel Group says it plans to delist its shares from the Philippine Stock Exchange to avoid disclosing its business strategy to competition.
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 […]
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.
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 […]
Five integrated resorts have registered with the Anti-Money Laundering Council (AMLC), following policy guidelines from the Financial Action Task Force (FATF). According to an announcement from the AMLC, the integrated resort operators include Travellers International Hotel Group; Widus International Leisure; Bloomberry Resorts and Hotels, Inc.; Melco Resorts Leisure (PHP) Corporation; and Tiger Resort Leisure and […]
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 […]
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 […]
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 […]
GGR and company EBITDA for three integrated resorts in Manila are expected to decline quarter-on-quarter in the 17Q3, according to analysts from Morgan Stanley. The brokerage said it expects mass market revenue to be flat quarter-on-quarter, stemming from the June shooting incident, while VIP luck is expected to normalize after strong luck in 17Q2. Bloomberry […]
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 […]
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 […]
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 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 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 […]
Travellers International Hotel Group Inc has confirmed that arrangements are being made to refinance the company’s $300 million bond facility which is maturing later this year, according to a Wednesday filing to the Philippine Stock Exchange. The company was responding to a news report from Business World Online which quoted AGI president Kingson U. Sian […]
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 […]
Alliance Global, which is working with Malaysia’s Genting Group to build a second property in Manila, says it expects to finalize the blueprint for the resort by June next year. “The master plan would be finished maybe by the first half of next year,” local media cited AGI President and Chief Operating Officer Kingson U. […]
The Philippine Amusement and Gaming Corp. (Pagcor) has ordered the four casinos at Entertainment City to immediately restore the 10 percent license fee cut that was granted to them by the previous administration. According to a report from the Manila Bulletin, Pagcor chairperson Andrea D. Domingo said the regulator has already notified Travellers International Hotel […]
Casino cruise ship operator Genting Hong Kong said profits swung to a loss in the six months ended June 30, 2016, attributed to a rise in total operating expenses. In a filing to the Hong Kong Stock Exchange on Tuesday, loss attributed to owners was $53.6 million 16H1, compared to a profit of $2.2 billion […]
Philippines-listed Travellers International Hotel Group Inc saw a drop in net profit for the six months ended June 30, according to a filing from Genting HK. Travellers reported net profit of P1.8 billion ($38.6 million) in 16H1, down from P2.4 billion in 15H1. While net revenue remained flat at P12.5 billion in 16H1, second quarter […]
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 […]
Philippines’ casino operators will soon be appealing to president-elect Rodrigo Duterte to exempt their businesses from a public smoking and liquor ban, local media reports. According to The Philippine Star, industry players are set to meet with Duterte later this month to discuss the proposed regulation. The ban comes amid an “oversupply” of casino hotels […]
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 […]
Genting HK has reported group profit at US$2.1 billion in 2015, compared with US$374.1 million in 2014, according to a recent filing to the Hong Kong Stock Exchange. Revenue from cruise and cruise related activities increased 23 percent to US$652.8 million in 2015, up from US$530.7 million in 2014. Net revenue increased 18.1 percent to […]
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 […]
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 […]
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 […]
Genting Hong Kong reported record interim profit, boosted by a stake sale and accounting changes, as well as higher revenue. Profit attributable to owners of the company was $2.16 billion in 1H2015, compared with $216.7 million in the year ago period. The group’s EBITDA for 1H2015 was $29.6 million compared with $20.2 million in 1H2014. The […]
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 […]
Gross gambling revenue in the Philippines is likely to gain 20 percent in 2015, despite the slowdown in Chinese VIP traffic, Philippine Amusement & Gaming Corp Chairman Cristino Naguiat told Bloomberg in an interview. In the first half, GGR was up 16 percent to $1.4 billion and there’s a “good chance” it will reach $3 […]
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. […]
Genting HK announced that Resorts World Manila-operator Travellers International’s gross gaming revenues decreased 5.7 percent to P6.7 billion ($150.8 million) for 15Q1, down from P7.2 billion in the same period of 2014. The company’s 15Q1 net profit was P1.74 billion, a P26.9 million increase from P1.71 billion in 2014. Average table count increased to 295 […]
Tiger Resorts Leisure and Entertainment has lost a $2.2 million guarantee paid to the Philippine gambling regulator and its provisional gaming license is at risk of suspension because of delays in building its integrated resort in Manila. The company, a unit of Japan’s Universal Corp, had asked the Philippine Gaming and Amusement Corp. for a […]
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 […]
Andrew Tan, head of Alliance Global Group which jointly owns Travellers International Group with Genting Bhd, said the Philippine gaming industry is insulated from Macau’s gambling woes. Tan was cited in a local media report as saying that Travellers’ Resorts World Manila property is targeting lower-end travellers than those visiting Macau. “Our definition of VIP […]
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.
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 is expected to be one of the strongest growing gaming markets in Asia again in 2017, driven by another major opening in Manila’s Entertainment City, however growth is expected to slow over the longer term in the face of greater regional competition.
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.