{"id":7966,"date":"2020-07-08T21:34:14","date_gmt":"2020-07-08T21:34:14","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=7966"},"modified":"2026-04-24T03:48:50","modified_gmt":"2026-04-24T06:48:50","slug":"resorts-world-manila-wont-recover-until-2022","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/resorts-world-manila-wont-recover-until-2022","title":{"rendered":"Resorts World Manila won’t recover until 2022"},"content":{"rendered":"\n

The operator believes it won’t see a return to 2019 levels of revenue for two years as casinos in Manila remain closed, travel is restricted and customers fear contagion.<\/p>\n\n\n\n\n\n\n\n

Philippines.- Nomura Group admitted in a note this week that Resorts World Manila’s economic recovery from the pandemic will be challenging.<\/p>\n\n\n\n

The firm believes that 2019 gaming revenue levels will be achieved again until 2022, GGR Asia reported.<\/p>\n\n\n\n

Metro Manila resorts have been closed since mid-March, international tourism and even local travel has not yet resumed and fear of contagion will discourage gamblers from returning to casinos. These are some of the variables Nomura analysts say will hurt its gaming revenues. <\/p>\n\n\n\n

Last month, Resorts World Manila\u2019s operator Travellers International Hotel Group said that in 2019 the resort saw a 38 per cent growth<\/a><\/em><\/strong> in revenue to P28.3billion (US$566 million). Gross gaming revenue for the period was P27.6 billion (US$552 million).<\/p>\n\n\n\n

Travellers is a joint venture created by Alliance Global Group and Genting Hong Kong. In response to the pandemic effect, Alliance Global\u2019s 2020 capital expenditure budget has been \u201ccut to PHP42 billion from PHP79 billion in order to prioritise cash preservation,\u201d Nomura said.<\/p>\n\n\n\n

Also, in a Tuesday filing Alliance Global said a consortium of companies of which the firm is part was unsuccessful in convincing the Philippine government to find a more economical way to upgrade Manila’s Ninoy Aquino International Airport (NAIA), which is located beside Resorts World Manila.<\/p>\n\n\n\n

In response, Nomura said Travellers International\u2019s capital expenditure \u201cburden\u201d in relation to a new gaming resort scheme in Manila\u2019s Entertainment City would \u201cmostly be shouldered\u201d by others due to a \u201cco-development agreement\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"

The operator believes it won’t see a return to 2019 levels of revenue for two years as casinos in Manila remain closed, travel is restricted and customers fear contagion.<\/p>\n","protected":false},"author":2,"featured_media":7969,"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's operator, Travellers International Hotel Group, faces significant economic recovery challenges, with Nomura Group projecting a return to 2019 gaming revenue levels only by 2022 due to ongoing casino closures, travel restrictions, and consumer apprehension in the Philippines. Alliance Global Group, a joint venture partner, has responded by significantly cutting its 2020 capital expenditure to preserve cash, while a co-development agreement is expected to mitigate the CAPEX burden for a new Entertainment City resort.","focusai_entities":"Nomura Group, Resorts World Manila, Travellers International Hotel Group, Alliance Global Group, Genting Hong Kong, Philippine government","focusai_location":"Philippines, Manila, Metro Manila, Ninoy Aquino International Airport (NAIA), Entertainment City","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":"CAPEX Reallocation Impact","query":"How will Alliance Global Group's significant capital expenditure reduction and the co-development agreement for the Entertainment City resort impact the project's timeline and the competitive landscape in Metro Manila?"},{"label":"Market Recovery Drivers","query":"Beyond travel restrictions and contagion fears, what specific governmental or public health interventions are critical for accelerating the return of GGR to 2019 levels for integrated resorts in the Philippines?"}],"footnotes":""},"categories":[157,158,16333],"tags":[128,22146],"class_list":["post-7966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-slider-home","category-south-east-asia-news","tag-philippines","tag-resorts-world-manila"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/7966","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=7966"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/7966\/revisions"}],"predecessor-version":[{"id":7981,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/7966\/revisions\/7981"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/7969"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=7966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=7966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=7966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}