Gaming revenue at Travellers’ Group’s Newport World Resorts rose some 36.2 percent yearly, topping PHP8.89 billion ($158.22 million) in the first quarter of the year, furthering the group’s growth on the back of the country’s continued rise.
Profit from the group’s Travellers arm rose to PHP348.72 million ($6.2 million), up 58 percent yearly, as revenues topped PHP7.9 billion, up 63 percent yearly.
Non-gaming revenue also improved, up 93 percent year-on-year, to PHP1.8 billion, on an increase of ‘mall goers, hotel occupancy, corporate events and MICE activities’.
The group’s parent company Alliance Global’s profit rose by 20 percent yearly, to PHP4.7 billion, as consolidated revenue topped PHP50.3 billion, up 34 percent yearly.
Speaking of the results the groups CEO, Kevin Tan, noted that “AGI is firing on all cylinders, with all our major business segments registering impressive growth in the first quarter of the year despite nagging concerns on inflation and ongoing global headwinds. Our businesses continued to take advantage of the resilient consumer demand and economic activity which provided the boost to our lifestyle malls, hotels, integrated resort operations, quick service restaurants, real estate sales and office rentals”.