Travellers Intl 2023 casino drop beat pre-pandemic: parent

May 02, 2024 Newsdesk Latest News, Philippines, Top of the deck  

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Travellers International Hotel Group Inc, the owner and operator of the Newport World Resorts (NWR) casino complex (pictured) in the Philippine capital Manila, was “remarkably stronger” performance-wise in 2023, with growth in its casino mass-market segment offsetting a decline in VIP business.

That is according to the 2023 annual report of the parent, Alliance Global Group Inc, filed this week with the Philippine Stock Exchange.

Gross gaming revenues (GGR) for Travellers International rose by 7.5 percent to “a new high” of PHP34.2 billion (US$593.7 million) in 2023. During the period, promotional allowances declined by 5.2 percent year-on-year, to PHP9.7 billion, “reflecting a decrease in VIP gaming activity,” stated the parent company.

Travellers International’s 2023 net gaming revenues grew by 13.4 percent year-on-year, to PHP24.5 billion.

The reporting period “showed higher drops in the mass segment as it surpassed pre-pandemic 2019 levels,” said Alliance Global.” Casino volume rose by 4 percent driven mainly from the increase on non-VIP and slot segments,” it added.

Newport World Resorts currently has five international hotel brands: Marriott Manila Hotel, Sheraton Manila Hotel, Hilton Manila, Hotel Okura Manila, and Holiday Inn Express Manila.

At the end of 2023, the group’s gaming business had 416 VIP and mass-gaming tables and 2,068 slot machines.

The company launched additional VIP gaming areas in 2023, with the opening of the Grand Club. Retail stores at the complex’s Grand Wing area “will soon be opened,” providing “unique customer experiences across a variety of gaming and non-gaming amenities,” added the parent’s annual report.

Travellers International recorded revenues of just above PHP31.6 billion, 17.3-percent higher year-on-year, stated the parent firm. Travellers International’s net income grew by 89.2 percent year-on-year, to PHP1.99 billion.

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