Resorts World Manila revenue up 33% in Q4

Resorts World Manila has reported net gaming revenues of PHP9.4bn (US$196.3m) for 2020 amid the Covid-19 pandemic and several lockdowns throughout the year.

The Philippines.- Resorts World Manila has revealed that gaming revenue was up 33 per cent in the last quarter of the year 2020 when compared to the third quarter.

The company also reported net gaming revenues of PHP9.4bn (US$196.3m) for full year 2020. Non-gaming revenue was PHP2.8bn. EBITDA was PHP425m ($8.9m).

Casinos in the Philippines were closed for most of last year due to the Covid-19 pandemic and they were shuttered again in March this year after the government announced the extension of Modified Enhanced Community Quarantine (MECQ) in Metro Manila until at least May 14.

Resorts World Manila is one of the IRs PAGCOR has allowed to offer online table games and slots.

Last July, analysts predicted Resorts World Manila would not return to pre-pandemic levels at least until 2022 as travel is restricted and customers fear contagion.