Newport World Resorts GGR up 7% in 2023

Travellers International Hotel Group has reported gross gaming revenue of PHP34.2bn (US$600.5m).

The Philippines.- Travellers International Hotel Group, the company that operates the Newport World Resorts casino complex (formerly Resorts World Manila), has reported casino gross gaming revenue (GGR) of PHP34.2bn (US$600.5m) for the year 2023. That’s a rise of 7 per cent compared to 2022.

Net gaming revenue increased by 19 per cent year-on-year to PHP31.9bn (US$559.5m) while non-gaming revenue was up 40 per cent at PHP7.4bn (US$130m). The rise was mainly attributed to the resurgence in tourism and meetings, incentives, conferences, and exhibition (MICE) activities.

Travellers International’s earnings before interest, taxation, depreciation, and amortisation (EBITDA) grew by 8 per cent in year-on-year terms to PHP8.2bn (US$143.8m), its highest level since 2012. The company’s net income was up 89 per cent year-on-year at PHP2bn (US$35.1m).