Travellers Int. 2Q revenue drops 12% Q-on-Q

Resorts World Manila

Travellers International Hotel Group, the owner and operator of Resorts World Manila, said its gross revenue fell 12 percent in 2Q21 from the prior quarter due to the Covid-mandated lockdowns.

Revenue was PHP4.6 billion ($91 million), which was still a five-fold improvement from a year earlier. Gross gaming revenues were PHP3.4 billion, while non-gaming revenues were at PHP1.2 billion.

Travellers posted a one-time gain of PHP4.8 related to services provided to the Westside City project, which helped it to post net income of PHP3.47 billion, compared with a loss of PHP3.7 billion the year before.

The company is a joint venture between Alliance Global and Genting Hong Kong. It no longer reports its results separately after delisting from the Philippines Stock Exchange in 2019.