Resorts World Manila GGR up 53% in Q3

Resorts World Manila has shared its financial results for the third quarter of the year 2021, reporting an increase in revenue of 53 per cent year-on-year.

The Philippines.- Alliance Global Group Inc., Resorts World Manila’s main owner, has shared its financial results for the third quarter of 2021. Gross gaming revenue was up 53 per cent to PHP4.9bn (US$97.3m) when compared to last year and up 46 per cent from Q2 2021.

The company highlighted the recovery in profits despite multiple countermeasures and lockdowns. It reported that RWM achieved record gross revenues of PHP5bn (US$99.5m), up 9 per cent when compared to the second quarter of the year, (PHP4.6bn) and up 36 per cent year-on-year.

Resorts World Manila’s operator Travellers International Hotel Group Inc revealed that the number of average daily visitors grew from 6,100 to 6,800 quarter-on-quarter. Travellers’ gross revenue for the nine months ended September 20 were PHP14.8bn (US$294.4m), up 28 per cent year-on-year. GGR was up 37 per cent to PHP12.8bn (US$254.6m).

Kevin Tan, CEO of AGI, stated: “We expect the renewed activity to continue, paving the way for the Group’s full recovery from the pandemic hopefully by next year.”