Philippines investment firm Alliance Global Group (AGI) says its Philippines integrated resort, Resorts World Manila (RWM), booked a 49% increase in consolidated net revenues to 16.4 billion and 27% increase in EBITDA to Php4.1 billion in the nine months to 30 September 2019.
Alongside Genting Hong Kong, AGI is a joint venture partner in RWM operator Travellers International Hotel Group, which delisted from the Philippine Stock Exchange on 21 October 2019.
Announcing its group-wide revenues for both the third quarter and the first nine months of the year on Thursday, AGI said that GGR at RWM through September had grown 52% to Php20.9 billion, “boosted by the sustained recovery in the VIP segment, healthy growth in the mass business, improved hold rates and increased foot traffic to the RWM complex.”
No further breakdown of the results was provided.
AGI also revealed that the company’s hotel business had reported a 59% increase in revenues to Php5.4 billion for the nine-month period, aided by an increase in hotel room capacity via RWM’s recently-launched Hilton Manila Hotel and Sheraton Manila Hotel under Travellers International.
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