• 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

Travellers allocates US$205 mln for expansion in 2014

Jun 13, 2014 Newsdesk Latest News, Philippines, Top of the deck  


Travellers allocates US$205 mln for expansion in 2014

Travellers International Hotel Group Inc said it is allocating up to 9 billion pesos (US$205 million) in 2014 for the expansion of its Resorts World Manila, planning to add more gaming areas and hotel rooms.

The casino operator ended 2013 in a net cash position of 8.1 billion pesos, which will enable it to fast track the Phase 2 and Phase 3 projects, the company said on Friday after its annual shareholders’ meeting. The two phases are forecast to cost a total US$650 million.

Travellers International Hotel Group Inc is a joint venture between Philippine-based Alliance Global Group Inc and Genting Hong Kong Ltd, a subsidiary of Malaysia’s Genting Bhd.

The company’s total gross revenues reached 33.4 billion pesos in 2013. Gross gaming revenues (GGR) contributed 30 billion pesos of 2013 revenues.

In the first quarter of 2014, the company posted a profit of 1.72 billion pesos, up from 995.4 million pesos a year earlier, though its GGR fell by 23.4 percent to 7.21 billion pesos.

Resorts World Manila opened in 2009 and it is currently being expanded. The second phase, which includes the expansion of the Marriott Hotel Manila and the addition of 227 rooms, should be ready by the end of 2015.

Phase 3 will comprise a new gaming area and two new hotels – the Hilton Manila and the Sheraton Hotel Manila, Travellers said in the statement. The third phase is scheduled to be completed by 2017.


  • tweet
Related articles
  • Kazuo Okada properly removed from IR op: Philippine court
    Kazuo Okada properly removed from IR...

    Nov 28, 2023  

  • Mohegan Inspire soft opening scheduled for Nov 30
    Mohegan Inspire soft opening scheduled...

    Nov 24, 2023  

More news
  • Bruno Mars to perform at MGM Cotai in Jan: MGM China
    Bruno Mars to perform at MGM Cotai in...

    Nov 28, 2023  

  • Nomura caution on China economy, China tourism in Asia
    Nomura caution on China economy, China...

    Nov 28, 2023  


Latest News

Bruno Mars to perform at MGM Cotai in Jan: MGM China

Bruno Mars to perform at MGM Cotai in Jan: MGM China

Nov 28, 2023  

American singer-songwriter Bruno Mars is to make a one-night-only concert appearance on the roof terrace of the MGM Cotai casino resort on January 6, said the venue promoter MGM China Holdings Ltd in...
Read More
Nomura caution on China economy, China tourism in Asia

Nomura caution on China economy, China tourism in Asia

Nov 28, 2023  

China ents provider iQiyi in deal for Galaxy Arena events

China ents provider iQiyi in deal for Galaxy Arena events

Nov 28, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”There’s been a 20 percent or 30 percent increase in our testing staff to handle globally the amount of extra work that we’ve got, and the Philippines and Macau have definitely contributed to that overall growth”

Ian Hughes

Chief commercial officer of testing and certification firm GLI



Most Popular

  • Ex-exec of Saipan casino-tied firm jailed by Beijing courtEx-exec of Saipan casino-tied firm jailed by Beijing court November 27, 2023
  • Kazuo Okada properly removed from IR op: Philippine courtKazuo Okada properly removed from IR op: Philippine court November 28, 2023
  • Bruno Mars to perform at MGM Cotai in Jan: MGM ChinaBruno Mars to perform at MGM Cotai in Jan: MGM China November 28, 2023
  • Malaysia to allow visa-free entry to Chinese citizensMalaysia to allow visa-free entry to Chinese citizens November 27, 2023
  • China ents provider iQiyi in deal for Galaxy Arena eventsChina ents provider iQiyi in deal for Galaxy Arena events November 28, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us