The operator of Newport World Resorts, Travellers, under the Alliance Global Group, has reported a fall in gaming revenues of 6.3 percent for the first nine months of the year, totaling PHP24.31 billion ($412.67 million).
Minus the promotional allowance, which fell by 10.4 percent to PHP6.8 billion, total net gaming revenues amounted to PHP17.49 billion ($296.59 million), a yearly drop of 4.5 percent.
The group attributed the contraction as ‘due to lower win rates in an overall volume growth’.
During the same period, non-gaming results for Newport World Resorts were on the rise, with occupancy of the five hotels on the property between 77 percent and 88 percent, helping push up its non-gaming core revenues by 9 percent yearly to PHP5.4 billion ($91.67 million.
A further breakdown of the specifics is expected on Tuesday after a delay in the investor briefing was announced.
Travellers brought in a total of PHP22.9 billion ($388.67 million) in core revenues, ‘supported by the rise in tourism and MICE activities despite lower net gaming revenues’.
However, net profit for Travellers fell by 69.1 percent yearly during the nine-month period, totaling just PHP155 million ($2.63 million).
