Waterfront Philippines has reported profit of PHP27.53m.<\/p>\n\n\n\n\n\n\n\n
The Philippines.- The casino and resort operator Waterfront Philippines has recorded Q3 profit of PHP27.53m (US$491,000), down 80 per cent year-on-year. Revenue was down 39 per cent at PHP441.74m (US$7.88m).<\/p>\n\n\n\n
Hotel revenue fell 8 per cent to PHP281.23m (US$5.01m), while non-hotel income fell 50 per cent to PHP145.92m (US$2.6m). The company operates three hotels including the Waterfront Cebu City Hotel and Casino, with its PAGCOR Casino Filipino, and the Waterfront Airport Hotel and Casino next to Mactan-Cebu International Airport.<\/p>\n\n\n\n
Waterfront is currently redeveloping the Manila Pavilion Hotel. The venue, also known as the Waterfront Manila Hotel and Casino,\u00a0has been under reconstruction since 2018\u00a0following a fire.\u00a0Waterfront hopes to launch Phase One in May 2024, Phase Two in January 2025 and Phase Three in May 2025. <\/p>\n","protected":false},"excerpt":{"rendered":"
Waterfront Philippines has reported profit of PHP27.53m.<\/p>\n","protected":false},"author":176,"featured_media":19051,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Waterfront Philippines reported a significant 80% year-on-year decline in Q3 profit to PHP27.53m, with total revenue down 39% to PHP441.74m. This performance reflects challenges in both hotel and non-hotel segments, alongside ongoing capital expenditure for the Manila Pavilion Hotel redevelopment, which is slated for phased completion between May 2024 and May 2025.","focusai_entities":"Waterfront Philippines, PAGCOR","focusai_location":"Philippines, Cebu City, Manila","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Manila Pavilion Impact","query":"What is the projected GGR contribution and EBITDA impact of the Manila Pavilion Hotel's phased reopening on Waterfront Philippines' future financial performance?"},{"label":"Market Share Analysis","query":"How do Waterfront Philippines' Q3 results compare to key competitors in the Philippine integrated resort market, and what are the implications for market share dynamics?"}],"footnotes":""},"categories":[163,16333],"tags":[23907],"class_list":["post-777011100","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011100","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=777011100"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011100\/revisions"}],"predecessor-version":[{"id":777040965,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011100\/revisions\/777040965"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/19051"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777011100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777011100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777011100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}