Partner in Resorts World Manila to spend US$75m on expansion plans

Alliance Global will back up Travellers International Hotel Group Inc’s expansion plans by injecting PHP4bn (US$75m).

The Philippines.- Alliance Global, one of the partners in Resorts World Manila, is to expand its leisure and entertainment offerings following an improvement in gross gaming revenue amid an easing of Covid-19 countermeasures in the country.

The company has announced it will raise PHP4.0bn (US$75.0m) to support the expansion plans of Travelers International Hotel Group Inc, the operator of RWS. Alliance Global Group Inc said the funds will be used for Travelers International’s ongoing expansion projects.

The company added that Resorts World Manila is now open for conferences, incentives, conferences and exhibitions and its hotels are accepting more occupants, improving the tourist flow in the region after The Philippines reopened its borders to fully vaccinated tourists.

For the first quarter of the year, the company reported gross gaming revenue was up 43 per cent to PHP6.5bn (US$124.4m) when compared to last year. Core revenues grew 29 per cent year-on-year to PHP4.8bn.