• 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

RWM posts US$12mln 2Q gaming revenue amid lockdown

Aug 17, 2020 Newsdesk Latest News, Philippines, Top of the deck  


RWM posts US$12mln 2Q gaming revenue amid lockdown

Travellers International Hotel Group Inc, the operator of the Resorts World Manila (RWM) casino complex in the Philippine capital, did manage to record some gambling revenue in the second quarter, despite its casino (pictured in a file photo) being subjected to forms of government lockdown since mid-March, due to efforts to stem the further spread of Covid-19 locally.

Such second-quarter gaming revenue was PHP566 million (US$11.6 million), representing a 91.5 percent decline from the PHP6.64 billion the complex achieved in the second quarter of 2019.

Resorts World Manila is a venture between the Philippine conglomerate Alliance Global Group Inc, and Hong Kong-listed Genting Hong Kong Ltd.

Alliance Global mentioned the gaming sum in its first-half results filed with the Philippine Stock Exchange on Friday. Other Manila casino operators have stated they have been allowed by the authorities to stage respectively so-called “dry run” gaming operations in preparation for the market reopening properly.

Travellers International is 70-percent owned by firms associated with the Alliance Global brand, and 30-percent owned by Genting Hong Kong, according to the latest filing. Travellers International no longer files its own results to the bourse, as it delisted in October last year.

For the whole of the first half, the group recorded gaming revenue of nearly PHP6.12 billion, down 54.8 percent from the just-under PHP13.54 billion managed in the first half of 2019.

The firm said first-half net gaming revenues “slid 59 percent year-on-year to PHP4.4 billion as gaming operations were suspended from mid-March in compliance with the lockdown measures set by the [Philippine] government”.

It added that non-gaming revenues in the same period were down “44 percent to PHP1.7 billion due to foot traffic decline”.

“Travellers … among all the business segments, was hit the hardest by the pandemic-related measures imposed by the government that closed most businesses it has in Resorts World Manila which are considered non-essential,” said Alliance Global.

The parent company added: “The theatre, cinemas and retail outlets were closed and MICE [meetings, incentives, conferences and exhibitions] activities stopped during the ECQ [enhanced community quarantine]. Hotel operations continued at limited capacity, following government-mandated restrictions.”

The disruption meant that revenues from Travellers International were “not enough to support the costs and expenses” of running Resorts World Manila.

The firm said separately in a press release: “The ongoing community quarantine, which put a temporary halt in casino gaming operations, has taken its toll on Travellers International.”

It added that firm “recorded a net loss of PHP3.7-billion in the first half this year, a reversal from its PHP845-million net income the year before.”

For Alliance Global as a whole, net profit fell 77.6 percent year-on-year in the second quarter, to PHP838 million, from nearly PHP3.75 billion in the prior-year period.

The first-half results filing noted that the country’s main island Luzon, where Manila is located, was under enhanced community quarantine from March 17 to May 15, which had “paralysed all non-essential activities and public transportation”.

After restrictions being eased first, to modified enhanced community quarantine – and then to general community quarantine from June 1 to August 3 – an uptick in the number of Covid-19 cases has resulted to a return to modified enhanced community quarantine, with effect from August 4, to Tuesday (August 18).


  • tweet
Related articles
  • GEN Singapore posts US$29mln 1Q profit, up sequentially
    GEN Singapore posts US$29mln 1Q...

    May 12, 2022  

  • Casino firm Paradise Co slips to negative EBITDA in 1Q
    Casino firm Paradise Co slips to...

    May 12, 2022  

More news
  • Foreign tourists can get S.Korean peninsula visa from June 1
    Foreign tourists can get S.Korean...

    May 20, 2022  

  • Crown Resorts’ shareholders nod Blackstone bid
    Crown Resorts’ shareholders nod...

    May 20, 2022  


Latest News

Foreign tourists can get S.Korean peninsula visa from June 1

Foreign tourists can get S.Korean peninsula visa from June 1

May 20, 2022  

South Korea on Thursday said it would from June 1 resume issuing short-term tourism visas for trips to the country’s mainland, for individual visitors and groups of tourists. Permits for...
Read More
Crown Resorts’ shareholders nod Blackstone bid

Crown Resorts’ shareholders nod Blackstone bid

May 20, 2022  

JP Morgan ups Aristocrat profit forecast 8pct for FY2022

JP Morgan ups Aristocrat profit forecast 8pct for FY2022

May 20, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”[Revenue at Okada Manila] will be around 80 percent of the pre-pandemic level in 2022 before recovering almost fully in 2023"

Satoru Aoyama, Akash Gupta and Kalai Pillay

Analysts at credit rating agency Fitch



Most Popular

  • Andrew Lo takes controlling stake in Suncity, Summit AscentAndrew Lo takes controlling stake in Suncity, Summit Ascent May 19, 2022
  • Melco to launch family attraction at Studio City in JuneMelco to launch family attraction at Studio City in June May 19, 2022
  • Bloomberry plans 3rd Philippine casino, coastal near ManilaBloomberry plans 3rd Philippine casino, coastal near Manila May 19, 2022
  • Wynn CEO, Macau execs in base pay cut in return for sharesWynn CEO, Macau execs in base pay cut in return for shares May 17, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us