• 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 Intl resort expansion spend tops US$236 mln

Oct 16, 2015 Newsdesk Latest News, Philippines, Top of the deck  


Travellers Intl resort expansion spend tops US$236 mln

Travellers International Hotel Group Inc said it has so far allocated about PHP10.86 billion (US$236 million) of the proceeds from an initial public offering (IPO) to the expansion of its Resorts World Manila casino resort (pictured).

The company invested PHP2.05 billion in the expansion of the resort during the third quarter of 2015, it said in a filing on Thursday. Total spending on enlargement of the property since the firm’s November 2013 IPO represents 64.8 percent of the PHP16.76 billion net proceeds, the company said.

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

The partners plan to double the size of the Manila integrated resort’s gaming, hotel and retail facilities once the physical infrastructure expansion is completed in 2017.

The second phase of the property, which includes the enlargement of the Marriott Hotel Manila and the addition of 227 rooms, should be ready by the first quarter of 2016, Travellers International said in a filing in August.

As of September 30, PHP5.78 billion from the offering proceeds were used for the hotel expansion, accounting for 82.2 percent of the planned investment in the second phase, the firm added.

A total of PHP5.08 billion from the IPO proceeds have been assigned to the third phase of Resorts World Manila. That will include more gaming space and two new hotels. Travellers International has pledged to invest a further PHP4.39 billion in the third phase of the casino resort, it said in Thursday’s filing.

DBP-Daiwa Capital Markets Philippines Inc said in a note last month that Resorts World Manila is also building a pedestrian walkway connecting the venue to Manila’s main international airport, which will allow “for a convenient and short walk between the country’s main port of entry and the casino resort”.


  • tweet
Related articles
  • Pagcor missing US$43mln revenue from POGOs: audit
    Pagcor missing US$43mln revenue from...

    Jun 23, 2022  

  • MSW sportsbook back and bigger at Resorts World Manila
    MSW sportsbook back and bigger at...

    Jun 23, 2022  

More news
  • Covid-19 test certificate to enter Macau casinos
    Covid-19 test certificate to enter...

    Jun 27, 2022  

  • Parisian quarantine hotel as Macau Covid cases near 360
    Parisian quarantine hotel as Macau...

    Jun 27, 2022  


Latest News

Covid-19 test certificate to enter Macau casinos

Covid-19 test certificate to enter Macau casinos

Jun 27, 2022  

Macau’s health authorities said on Sunday that they would require all people wishing to enter the city’s casinos not only to have their body temperature measured and to display a...
Read More
Parisian quarantine hotel as Macau Covid cases near 360

Parisian quarantine hotel as Macau Covid cases near 360

Jun 27, 2022  

Maybe new Macau mass Covid test, community spread still

Maybe new Macau mass Covid test, community spread still

Jun 24, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$5.8 million

Amount that each Macau casino operator paid for the circa six-month extension of their respective contract



Most Popular

  • Maybe new Macau mass Covid test, community spread stillMaybe new Macau mass Covid test, community spread still June 24, 2022
  • Blackstone clinches US$6.15bln takeover of Crown ResortsBlackstone clinches US$6.15bln takeover of Crown Resorts June 24, 2022
  • Jeju still studying online gaming for its casinos: govtJeju still studying online gaming for its casinos: govt June 24, 2022
  • Alvin Chau, Suncity trial set for September 2: courtAlvin Chau, Suncity trial set for September 2: court June 20, 2022
  • Okada Manila control dispute back in court: UniversalOkada Manila control dispute back in court: Universal June 22, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us