VIP gaming volumes are back on the rise at Resorts World Manila (RWM), according to stakeholder Alliance Global Group.
The Philippines conglomerate, which co-owns RWM operator Travellers International Hotel Group alongside Genting Hong Kong, said in a press release on Friday announcing its group-wide financial results that there were signs of improvement at its flagship IR following the deadly attack last June that saw 39 people lose their lives.
Although gaming revenues fell 3% to Php4.5 billion during the first six months of 2018, “the VIP segment has started to recover with drop and GGR already improving on a quarterly basis,” Alliance said.
“The launch of a portion of the Grand Wing is expected to further buoy the premium gaming business at RWM.”
RWM shut down its second-floor gaming area after last year’s attack but has since launched part of its new Phase 3 Grand Wing including some new gaming space with the addition of 35 gaming tables and 414 slot machines. That capacity will double once work are complete in the coming weeks. The makeover will include opening the Philippines’ first Ritz-Carlton and opening Okura Hotel in the space once earmarked for the expansion of Maxims.
Travellers reported gross revenue of Php11.1 billion in 1H18 with attributable net income of Php1.7 billion compared to Php375 million a year earlier. Non‐gaming revenue rose 4% to Php2.0 billion.
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