Manila quarantine takes toll on RWM 20H1 results

Travellers International Hotel Group, the owner and operator of Resorts World Manila has felt the effects of the temporary halt in casino gaming operations, recording a net loss of P3.7 billion in the first half of 2020. 

The company was the hardest hit out of all the businesses under the Alliance Global Group – with gaming, theatre and meeting areas closed from mid-March. 

Gaming net revenues fell 59 percent year-on-year to P4.4 billion, while non-gaming revenues fell 44 percent to P1.7 billion, due to foot traffic decline as well as the closure of the theatre, cinemas and retail outlets. 

The hotel has been operating at limited capacity with occupancy ranging between 29% to 60% in the first half of the year.