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.<\/p>\n\n\n\n\n\n\n\n
The Philippines.- Alliance Global Group Inc.,\u00a0Resorts World Manila’s\u00a0<\/strong>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. <\/p>\n\n\n\n The company highlighted the recovery in profits despite\u00a0multiple countermeasures and lockdowns<\/a>. It reported that\u00a0RWM achieved record gross revenues of PHP5bn (US$99.5m)<\/strong>, up 9 per cent when compared to the\u00a0second quarter of the year<\/a>, (PHP4.6bn) and up 36 per cent year-on-year.<\/p>\n\n\n\n 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).<\/p>\n\n\n\n Kevin Tan, CEO of AGI<\/strong>, stated: “We expect the renewed activity to continue, paving the way for the Group\u2019s full recovery from the pandemic hopefully by next year.”<\/p>\n","protected":false},"excerpt":{"rendered":" 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.<\/p>\n","protected":false},"author":176,"featured_media":20202,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Resorts World Manila, primarily owned by Alliance Global Group Inc., reported a significant financial recovery in Q3 2021, with GGR up 53% year-on-year to PHP4.9bn and gross revenues increasing 36% year-on-year to PHP5bn. This growth, despite ongoing pandemic countermeasures and lockdowns in the Philippines, signals a strong rebound in gaming verticals and visitor traffic. The Group anticipates full recovery by next year.","focusai_entities":"Resorts World Manila, Alliance Global Group Inc., Travellers International Hotel Group Inc., Kevin Tan","focusai_location":"The Philippines","focusai_target_profile":"ceo_executive (0.95), regulator (0.7), operator_casino (0.9), marketing_crm (0.75), investor_analyst (0.98), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Q4 GGR Projections?","query":"What are the forward-looking GGR projections for Resorts World Manila and Travellers International Hotel Group Inc. for Q4 2021 and FY2022, considering the evolving regulatory landscape and potential for further operational easing?"},{"label":"Operational Cost Structure?","query":"How has the operational cost structure of Resorts World Manila adapted to the fluctuating visitor volumes and revenue streams, and what are the key efficiency drivers contributing to the reported profit recovery?"}],"footnotes":""},"categories":[163,158,16333],"tags":[23632,23907,22146],"class_list":["post-24576","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-slider-home","category-south-east-asia-news","tag-integrated-resorts","tag-land-based-casino","tag-resorts-world-manila"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24576","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=24576"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24576\/revisions"}],"predecessor-version":[{"id":24584,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24576\/revisions\/24584"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20202"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=24576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=24576"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=24576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}