The Board of Directors of Philippines conglomerate Alliance Global Group, Inc (AGI) has declared a cash dividend of Php0.10 per share on its outstanding common shares.
The dividend will be payable on January 24th, 2025, to stockholders of record as of December 27th, 2024.
Alliance Global Group is the parent company of Travelers International Hotel Group, the operator of Newport World Resorts.
Earlier this year, Alliance Global Group confirmed plans to expand outside Metro Manila with its first casino in Boracay’s Newcoast township. The project, to be managed by AGI’s subsidiary Boracay Newcoast Resorts, Inc. (BNRI), will feature a boutique-style casino, smaller than the flagship Newport World Resorts in Manila.
The development is set to involve an investment of $300 million, in line with BNRI’s provisional license from the Philippine Amusement and Gaming Corporation (PAGCOR).
This new venture aims to capitalize on Boracay’s vibrant tourism sector, offering a unique gaming experience that complements the island’s natural beauty.
The project reflects AGI’s strategy to diversify its portfolio, blending entertainment and luxury in one of the Philippines’ most popular tourist destinations.
