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Resorts World Manila allocated $75m expansion fund

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Alliance Global Group is allocating $75m (PHP4b) for Travellers International’s ongoing expansion projects at Resorts World Manila in 2022, mainly in leisure and entertainment, the group reported to the PSE.

The company noted that eased quarantine restrictions brought Travellers gross gaming revenues to a 26% year-on-year increase, propelled by its reinvigorated VIP business. 

Newport City is now fully open to MICE activities, while hotels in the complex are accepting staycationers to further improve footfall in the area.

Alliance’s injection into Travellers is part of an allocation of PHP60b for capital expenditures this year, around 33% higher than last year’s CAPEX, as it prepares for a further improvement in economic activity with the anticipated increase in mobility.

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