Alliance Global net income up 38% in Q2

The group posted net revenue of PHP23m.

The Philippines.- Alliance Global Group, owner of Travellers International Hotel Group (operator of Newport World Resorts casino and leisure complex in Manila) has shared its financial results for the second quarter of the year. It posted net revenue of PHP23m (US$7.4m), up 38 per cent sequentially.

Gross revenue was up 17 per cent year-on-year at PHP10.9bn (US$191m), mainly due to “the sharp 20 per cent quarter-on-quarter expansion in gross gaming revenues.” Non-gaming revenue was up 8 per cent sequentially while gaming revenue grew by 20 per cent.

The company recorded an average hotel occupancy of 84 per cent in the second quarter and an average daily footfall of 44,000 visitors in Newport World Resorts. For the first half of 2024, net income attributable to owners stood at PHP434m (US$7.6m) on gross revenues of PHP20.1bn (US$353m).

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