Travellers International, the operator of Resorts World Manila, has reported a loss of PHP1.1bn (US$23.0m) for the first quarter.<\/p>\n\n\n\n\n\n\n\n
The Philippines.- Travellers International, the owner of Resorts World Manila<\/strong>, has reported that\u00a0revenue dropped 24 per cent year-on-year<\/strong>\u00a0in the first quarter but was up 13 per cent sequentially. Resorts World Manila\u00a0registered a loss of PHP1.1bn (US$23m)\u00a0<\/strong>for the quarter.<\/p>\n\n\n\n Gaming revenues was up 15 per cent quarter-on-quarter, driven by premium mass and VIP operations<\/strong>. <\/p>\n\n\n\n Hotel operations also saw an improvement with higher occupancy rates at 65 per cent\u00a0<\/strong>compared to 54 per cent in the fourth quarter of 2020.<\/p>\n\n\n\n Kevin Tan, chief executive officer of Alliance Global, said: “We are very optimistic for the next three quarters as\u00a0we look forward to an accelerated vaccine rollout<\/strong>\u00a0that would allow business activities to pick up.<\/p>\n\n\n\n “This pandemic taught our Group to be relentlessly creative and innovative<\/strong> in executing and modifying some of our strategies to help our various businesses recover fast and strong.”<\/p>\n\n\n\n The Philippine Amusement and Gaming Corporation (PAGCOR) has recently announced <\/strong>that Resorts World Manila<\/a> has been allowed to launch online gaming products.<\/p>\n\n\n\n The new licences will be regulated under a new system called PIGO (Philippine Inland Gaming Operator)<\/strong>, which allows operators to offer gaming services to players within the country.<\/p>\n\n\n\n PAGCOR chairman Andrea Domingo <\/strong>said licences would remain with limits. She said: \u201cNot just anyone can play because of non-proliferation and responsible gaming.\u201d<\/p>\n\n\n\n The Philippines\u2019 president has announced Metro Manila will move to general community quarantine<\/strong> until May 31. <\/p>\n\n\n\n