Travellers International Hotel Group is the operator of\u00a0Newport World Resorts.<\/p>\n\n\n\n\n\n\n\n
The Philippines.-\u00a0Alliance Global Group <\/strong>has announced an agreement to acquire Genting Hong Kong’s stake in Travellers International Hotel Group, the operator of\u00a0Newport World Resorts<\/strong>. Prior to the deal, Alliance Global already held a 60 per cent stake. Financial details of the agreement remain undisclosed at present.<\/p>\n\n\n\n The Newport World Resorts casino complex (formerly Resorts World Manila<\/a>) has reported that\u00a0revenue was up 62.9 per cent year-on-year<\/a>\u00a0to\u00a0PHP7.9bn<\/strong>\u00a0(US$140.9m) in the first quarter of the year. GGR was up 36.2 per cent to PHP8.89bn (US$155.2m).<\/p>\n\n\n\n In 2022, the company reported casino gross gaming revenue (GGR)<\/a> of PHP31.83bn<\/strong> (US$568.4m), up 90.3 per cent compared to 2021 but down 51.9 per cent when compared to 2020.<\/p>\n\n\n\n Earlier this month,\u00a0Genting Hong Kong<\/strong>\u00a0announced through a company filing that it had cancelled its listing on the Hong Kong Stock Exchange. The last day of the listing of the shares was May 15.<\/p>\n\n\n\n In January 2022, Genting filed for liquidation<\/a> after a German court rejected a request to release US$88m for its shipyard unit MV Werften<\/strong>. Last July, the cruise ship operator<\/a> reported that various non-core subsidiaries had entered into insolvency proceedings in the relevant jurisdictions, including Australia, Hong Kong, Malaysia, Singapore and the United States.<\/p>\n","protected":false},"excerpt":{"rendered":" Travellers International Hotel Group is the operator of\u00a0Newport World Resorts.<\/p>\n","protected":false},"author":176,"featured_media":16856,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Alliance Global Group has announced an agreement to acquire Genting Hong Kong's remaining stake in Travellers International Hotel Group, the operator of Newport World Resorts, solidifying its ownership. This transaction occurs amidst Genting Hong Kong's ongoing liquidation and delisting from the Hong Kong Stock Exchange. Concurrently, Newport World Resorts reported robust Q1 2023 revenue and GGR growth, indicating strong operational recovery.","focusai_entities":"Travellers International Hotel Group, Newport World Resorts, Alliance Global Group, Genting Hong Kong, MV Werften","focusai_location":"Philippines, Hong Kong, Germany, Australia, Malaysia, Singapore, United States","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), compliance_legal (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"AGG's Strategic Rationale?","query":"What is Alliance Global Group's long-term strategic rationale for consolidating full ownership of Travellers International Hotel Group, particularly in the context of the evolving Philippine integrated resort market?"},{"label":"Genting HK's Remaining Assets?","query":"What are the implications of Genting Hong Kong's ongoing liquidation and delisting for its remaining global assets and any potential future liabilities related to its former gaming ventures?"}],"footnotes":""},"categories":[157,16333],"tags":[23716,24194],"class_list":["post-777005812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-genting-hong-kong","tag-travellers-international-hotel-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005812","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=777005812"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005812\/revisions"}],"predecessor-version":[{"id":777005843,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777005812\/revisions\/777005843"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16856"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777005812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777005812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777005812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Genting Hong Kong to delist from Hong Kong Stock Exchange<\/h2>\n\n\n\n