• 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

Manila casino op Travellers’ 1Q profit up 1.6 pct

May 18, 2015 Newsdesk Latest News, Philippines, Top of the deck  


Manila casino op Travellers’ 1Q profit up 1.6 pct

Philippines casino developer and operator Travellers International Hotel Group Inc reported a 1.6 percent increase year-on-year in net profit for the first quarter.

Gross gaming revenue for the firm fell by almost 6 percent, but the company said it also had lower costs in the period, including a near 40-percent drop in spending on marketing and promotions.

Travellers International – which developed and operates the Resorts World Manila casino and hotel complex (pictured) next to Manila International Airport and is building a second, US$1.1-billion property called Resorts World Bayshore at Manila Bay – said group net profit increased to approximately PHP1.74 billion (US$39.2 million), from approximately PHP1.72 billion in the year-prior period.

Earnings per share – basic and diluted – were stable at PHP0.11 per unit.

The company said that gross gaming revenues decreased 5.7 percent to approximately P6.80 billion for the three months ended March 31 down from approximately PHP7.21 billion in the same period of 2014.

Travellers International’s direct costs posted a 2.9 percent decline to approximately PHP2.19 billion from PHP2.25 billion in the prior-year period.

The firm said the change was “primarily due to lower gaming taxes and licences attributable to lower gaming revenue”.

It added: “Direct costs related to gaming have [also] gone down as part of cost management initiatives.”

Travellers International said its general and administrative expenses in the three months to March 31, fell 11.8 percent to approximately PHP2.7 billion, from PHP3.06 billion in the year-prior period.

Spending on marketing and promotions decreased 39.8 percent to PHP993.2 million in the period, from approximately PHP1.65 billion in the year-prior period “due to a decline in rebates”, the firm added.

Operating profit for the first three months of 2015 was approximately PHP2.08 billion, a 5.9 percent decline compared to the approximately PHP2.22 billion recorded in the first quarter of 2014. Earnings before interest, taxation, depreciation and amortisation (EBITDA) fell 7.8 percent to approximately PHP2.41 billion, from the PHP2.61 billion posted in the same period in 2014.

Travellers International didn’t give a breakdown of VIP gaming revenue versus mass market gaming revenue for the first quarter. Nor did it give a number for VIP rolling chip volume for the period.

But it said in a commentary on its first quarter gaming results: “The company remains cautious in the VIP segment. Visitation remains strong at 20,229 average daily property visits. However, the mass segment volume was affected by the road and air traffic because of the Skyway construction, the Pope’s visit and the long weekend leading to the Holy Week.”

The first reference was to a section of the Metro Manila Skyway elevated road that passes close to Resorts World Manila. The second reference was to a visit to Manila in January by Pope Francis, head of the Roman Catholic church, and the third to a period from March 29 to April 4 preceding Easter Sunday, a major religious festival in the majority Roman Catholic nation.

In January local media had reported that although the city’s casinos – including Resorts World Manila – had been scheduled to remain open during the Pope’s visit, customer attendance had been expected to be affected by re-routing of road transport in a city already known for its traffic jams.

Travellers International added in its first quarter results that average table count at Resorts World Manila increased to 295 for the period, from 287 in the same period in 2014. The average number of slot machines decreased to 1,851 from 1,853, while the electronic table game count remained the same at 210.

Travellers International is a venture between Philippines conglomerate Alliance Global Group Inc and Genting Hong Kong Ltd, a unit of Malaysia’s Genting Group.

Alliance Global said in a filing in April that Resorts World Manila is to open a new ballroom and convention centre in July.


  • tweet
Related articles
  • Alliance Global acquires remaining stake in Newport op
    Alliance Global acquires remaining...

    May 31, 2023  

  • Genting Hong Kong to be delisted on May 16, says exchange
    Genting Hong Kong to be delisted on May...

    May 12, 2023  

More news
  • Lam Yi Young resigns as deputy CEO Resorts World Sentosa
    Lam Yi Young resigns as deputy CEO...

    Jun 02, 2023  

  • China stimulus package could benefit Macau stocks: CBRE
    China stimulus package could benefit...

    Jun 02, 2023  


Latest News

Lam Yi Young resigns as deputy CEO Resorts World Sentosa

Lam Yi Young resigns as deputy CEO Resorts World Sentosa

Jun 02, 2023  

Genting Singapore Ltd says Lam Yi Young has resigned from his role as deputy chief executive of Resorts World at Sentosa Pte Ltd. The latter firm is an indirect wholly owned subsidiary of Genting...
Read More
China stimulus package could benefit Macau stocks: CBRE

China stimulus package could benefit Macau stocks: CBRE

Jun 02, 2023  

G2E Asia 2023: Singapore

  • Alfastreet’s new Verso cabinet heading to Asian markets
    Alfastreet’s new Verso cabinet heading to Asian markets

    Jun 01, 2023  

    Alfastreet, a manufacturer of electronic gaming machines,...
  • Sega Sammy Creation growing land-based, eyes online
    Sega Sammy Creation growing land-based, eyes online

    Jun 01, 2023  

    Casino equipment maker Sega Sammy Creation Inc is tweaking...
  • iGaming growing in Asia, ops tackling challenges: Uplatform
    iGaming growing in Asia, ops tackling challenges: Uplatform

    Jun 01, 2023  

    The iGaming segment in Asia “has grown rapidly” since...
  • ‘See before you play’ slot marketing tool, say tech suppliers
    ‘See before you play’ slot marketing tool, say tech...

    May 31, 2023  

    Showing slot machine players – via animations on the...
  • Macau stocks tied to China outlook: Bloomberg analyst
    Macau stocks tied to China outlook: Bloomberg analyst

    May 31, 2023  

    Macau stocks in likelihood “have been punished too much...
  • Investors still eye possible fresh IR locations in Japan: scholar
    Investors still eye possible fresh IR locations in Japan:...

    May 31, 2023  

    There are foreign companies still interested in investing...
  • Thai casino law possible in 2024, IR in 2030: govt adviser
    Thai casino law possible in 2024, IR in 2030: govt adviser

    May 31, 2023  

    Thailand could pass the necessary enabling legislation for...
  • China still ‘critical’ to Asian markets: G2E Asia panel
    China still ‘critical’ to Asian markets: G2E Asia panel

    May 30, 2023  

    China will remain a key market for Asian gaming...
  • Much interest in state casinos sale, says Pagcor boss Tengco
    Much interest in state casinos sale, says Pagcor boss

    May 30, 2023  

    Alejandro Tengco (pictured in a file photo), chairman and...
  • Gaming industry in for a very exciting period: Bill Miller
    Gaming industry in for a very exciting period: Bill Miller

    May 30, 2023  

    There are “plenty of reasons” for the global gaming...
  • IGT flags route to high-performing games for Asia
    IGT flags route to high-performing games for Asia

    May 30, 2023  

    Gaming equipment provider International Game Technology Plc...
  • G2E Singapore trade show, conference begins today
    G2E Singapore trade show, conference begins today

    May 30, 2023  

    The Global Gaming Expo (G2E) Asia 2023 Special Edition:...
  • Novomatic’s Black Edition II cabinets at G2E in Singapore
    Novomatic’s Black Edition II cabinets at G2E in Singapore

    May 29, 2023  

    Austria-based gaming equipment maker and operator Novomatic...
  • Uplatform to show latest iGaming products at G2E Singapore
    Uplatform to show latest iGaming products at G2E Singapore

    May 25, 2023  

    Sports betting and online casino operating platform...
  • L&W ambition to be No1 in Asia well on its way: SVP gaming
    L&W ambition to be No1 in Asia well on its way: SVP...

    May 24, 2023  

    The business performance in Asia of gaming content and...
  • G2E Singapore expecting 6k visitors, 100+ exhibitors
    G2E Singapore expecting 6k visitors, 100+ exhibitors

    May 18, 2023  

    The organisers of Global Gaming Expo (G2E) Asia 2023...
  • ‘Dragon Unleashed’ slot link by L&W at G2E in Singapore
    ‘Dragon Unleashed’ slot link by L&W at G2E in...

    May 17, 2023  

    Gaming content and equipment supplier Light & Wonder...
  • Sega Sammy Creation new multi-ETG at G2E in Singapore
    Sega Sammy Creation new multi-ETG at G2E in Singapore

    May 16, 2023  

    Casino equipment maker Sega Sammy Creation Inc is to...
  • Aristocrat at G2E Asia in Singapore previews Year of Dragon
    Aristocrat at G2E Asia in Singapore previews Year of Dragon

    May 09, 2023  

    Casino slot machine and digital gaming content provider...
  • IGT ‘Prosperity’ link in Asia show debut G2E in Singapore
    IGT ‘Prosperity’ link in Asia show debut G2E in...

    May 05, 2023  

    The Global Gaming Expo (G2E) Asia event in Singapore is the...
  • Thai parliament adviser on casinos attending G2E Singapore
    Thai parliament adviser on casinos attending G2E Singapore

    May 04, 2023  

    An adviser to a Thailand parliamentary committee mulling...

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$8.1 billion

Macau’s casino gross gaming revenue in the five months to May 31



Most Popular

  • Lam Yi Young resigns as deputy CEO Resorts World SentosaLam Yi Young resigns as deputy CEO Resorts World Sentosa June 2, 2023
  • MBS en route to US$500mln quarterly EBITDA: LVS bossMBS en route to US$500mln quarterly EBITDA: LVS boss June 1, 2023
  • China stimulus package could benefit Macau stocks: CBREChina stimulus package could benefit Macau stocks: CBRE June 2, 2023

Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us