• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Balance of Travellers’ 2013 IPO spent: casino firm

Jan 17, 2017 Newsdesk Latest News, Philippines, Top of the deck  


Balance of Travellers’ 2013 IPO spent: casino firm

The outstanding balance of the PHP16.76-billion (US$335.1-million) net proceeds from a 2013 initial public offering (IPO) by Philippine casino operator Travellers International Hotel Group Inc were disbursed in the fourth quarter of 2016, according to a Friday filing from the firm to the Philippine Stock Exchange.

The group’s outgoings for the final three months of 2016 in relation to the IPO cash amounted to PHP47.51 million.

The firm – a venture between local conglomerate Alliance Global Group Inc and Hong Kong-listed Genting Hong Kong Ltd – operates the Resorts World Manila property (pictured) near Manila Ninoy Aquino International Airport in the Philippine capital.

Friday’s filing added that the phase two expansion of Resorts World Manila – including the completion of the west wing of the Marriott hotel – had used PHP7 billion of the IPO proceeds, and had been fully disbursed by December 31, 2016.

Phase three – including expansion of Maxims Hotel and two new hotels, namely a Hilton Hotel and a Sheraton Hotel – had received PHP9.5 billion from the IPO funds by December 31.

The firm’s third-quarter results filing in November said the third phase was due to be operational by 2018.


  • tweet
Related articles
  • Jeju Shinhwa op narrows loss, gets extension from Pagcor
    Jeju Shinhwa op narrows loss, gets...

    Mar 31, 2023  

  • Suntrust confirms casino hotel 2024 opening on track
    Suntrust confirms casino hotel 2024...

    Mar 29, 2023  

More news
  • Macau March GGR up 247pct y-o-y, to US$1.6bln: govt
    Macau March GGR up 247pct y-o-y, to...

    Apr 01, 2023  

  • Some Macau hotels say no rooms vacant 3 days of Easter
    Some Macau hotels say no rooms vacant 3...

    Mar 31, 2023  


Latest News

Macau March GGR up 247pct y-o-y, to US$1.6bln: govt

Macau March GGR up 247pct y-o-y, to US$1.6bln: govt

Apr 01, 2023  

Macau’s casino gross gaming revenue (GGR) was up 246.9 percent year-on-year in March, to just under MOP12.74 billion (US$1.58 billion). The March tally was up 23.4 percent month-on-month,...
Read More
Some Macau hotels say no rooms vacant 3 days of Easter

Some Macau hotels say no rooms vacant 3 days of Easter

Mar 31, 2023  

Macau 2023 GGR at 45pct of pre-Covid level: Moody’s

Macau 2023 GGR at 45pct of pre-Covid level: Moody’s

Mar 31, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”Efforts have pivoted to the construction of the hotel tower, with plans to launch a soft opening before the end of 2024 and a grand opening in 2025”

Casino investor LET Group

On the development of a casino hotel in Manila, the Philippine capital



Most Popular

  • Some Macau hotels say no rooms vacant 3 days of EasterSome Macau hotels say no rooms vacant 3 days of Easter March 31, 2023
  • Japan govt delays IR decision due to local elections: reportJapan govt delays IR decision due to local elections: report March 30, 2023
  • Sands China ups ties to China showbiz giant Star CMSands China ups ties to China showbiz giant Star CM March 29, 2023
  • Macau 2023 GGR at 45pct of pre-Covid level: Moody’sMacau 2023 GGR at 45pct of pre-Covid level: Moody’s March 31, 2023
  • Macau got 16k mainland package tourists in Feb reopeningMacau got 16k mainland package tourists in Feb reopening March 29, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us