Travelers buys back shares, delisting to go ahead

    Resorts World Manila

    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 261.8 million common shares forming part of the existing public float were not tendered. As a result, the resulting public float will be less than 2 percent after the crossing of shares, said the company. 

    The company began its tender offer to public shareholders on August 19, with the aim of desilting from the stock exchange. It said it wanted to avoid disclosing its business strategy to its competition. 

    SHARE
    Previous articleGenting Malaysia possible operator of Resorts World LV
    Next articleSkycity first in NZ to offer Lucky 6

    Related Articles

    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 […]

    Travellers International posts net income of US$20 million for 2019

    Travellers International Hotel Group, the owner and operator of Resorts World Manila, posted a net income of PHP945 million (US$20 million) in 2019, down 35 percent the previous year. Consolidated revenues grew 38 percent year-on-year to PHP28.3 billion, but the firm faced higher costs from new facilities at Resorts World Manila, as well as increased […]

    Resorts World Foundation sends medical supplies to hospitals

    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. […]

    RWM sees sustained VIP recovery, growth in mass in 19Q3

    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 […]