{"id":9091,"date":"2020-08-17T21:50:19","date_gmt":"2020-08-17T21:50:19","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=9091"},"modified":"2026-04-24T02:40:48","modified_gmt":"2026-04-24T05:40:48","slug":"resorts-world-manila-revenue-halves-in-1h","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/resorts-world-manila-revenue-halves-in-1h","title":{"rendered":"Resorts World Manila revenue halves in 1H"},"content":{"rendered":"\n

Gross gaming revenues at the Philippines casino reached US$125.5 million, down 19 per cent in relation to the first half of 2019.<\/p>\n\n\n\n\n\n\n\n

Philippines.- Travellers International Hotel Group, operator of Resorts World Manila (RWM), has reported a 53 per cent year-on-year decline in gross revenue to Php7.8 billion (US$160.4 million) for the first half of 2020.<\/p>\n\n\n\n

Net losses for this period were Php3.7 billion (US$76.1 million), down from Php845 million (US$17.3 million) in net income in the same period in 2019.<\/p>\n\n\n\n

The information was released in a presentation by Alliance Global Group, the Philippines firm that holds a 50 per cent interest<\/a><\/em><\/strong> in Travellers.<\/p>\n\n\n\n

Gross gaming revenue hit Php6.1 billion (US$125.5 million), down 19 per cent on the first half of 2019. The mass market held up better during the enhanced community quarantine in Manila, falling by 11 per cent, while the VIP sector saw a 28 per cent drop in the period.<\/p>\n\n\n\n

Net gaming revenues were down 24 per cent in total, while the non-gaming business lost 17 per cent year\u2013on-year and final EBITDA results for Travellers saw a 71 per cent fall on the first half of 2019. \u00a0<\/p>\n\n\n\n

Kevin L. Tan, chief executive officer of Alliance, said: \u201cThe country\u2019s strict two-month lockdown weighed heavily on most of our domestic operations. We take comfort from the fact that we have managed to diversify our sources of income, either by type of products or by geographic contribution, and this has helped us mitigate the impact of this pandemic on our group performance.\u201d<\/p>\n\n\n\n

RWM currently has 363 VIP and mass gaming tables and 100 electronic gaming machines.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gross gaming revenues at the Philippines casino reached US$125.5 million, down 19 per cent in relation to the first half of 2019.<\/p>\n","protected":false},"author":2,"featured_media":9093,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Travellers International Hotel Group, operator of Resorts World Manila, reported a 53% year-on-year decline in gross revenue and a net loss of Php3.7 billion for H1 2020. This significant downturn, including a 19% drop in GGR and 71% fall in EBITDA, is primarily attributed to the strict two-month lockdown in Manila. Alliance Global Group, a 50% stakeholder, noted the impact while highlighting diversification efforts.","focusai_entities":"Travellers International Hotel Group, Resorts World Manila, Alliance Global Group, Kevin L. Tan","focusai_location":"Philippines, Manila","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"H2 2020 Outlook?","query":"What specific operational adjustments and market recovery trends are anticipated for Resorts World Manila in H2 2020, particularly concerning the VIP versus mass market segments, given the H1 performance?"},{"label":"Diversification Strategy Impact?","query":"How has Alliance Global Group's stated diversification strategy specifically mitigated the H1 2020 impact on Travellers International Hotel Group's core gaming revenues, and what is the projected contribution of non-gaming verticals moving forward?"}],"footnotes":""},"categories":[163,16333],"tags":[128,22146],"class_list":["post-9091","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-philippines","tag-resorts-world-manila"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9091","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=9091"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9091\/revisions"}],"predecessor-version":[{"id":9104,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9091\/revisions\/9104"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/9093"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=9091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=9091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=9091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}