Alliance Global Group (AGI), the parent company of Newport World Resorts operator Travellers International Hotel Group Inc, said Friday it is looking to expand its casino business outside of Metro Manila.
In a Philippine Stock Exchange filing, AGI confirmed comments made at the company’s Annual General Meeting by its CEO, Kevin Tan, and quoted by the Inquirer in which he stated, “As for expansion outside Metro Manila, we are actively looking at some of the key tourism hubs all over the Philippines as potential expansion sites for our integrated resort business.”
AGI on Friday said it “confirms the above-quoted news article, particularly in terms of exploring new locations to expand its integrated resort business. However, no firm plans have been made regarding the locations or timelines when these expansion plans will be implemented.”
The company also rejected suggestions that its expansion plans were related to its recently announced acquisition of former joint venture partner Genting Hong Kong’s stake in Travellers.
While AGI has given no details on a timeline or potential locations for any new integrated resort developments, it did announce last week that it would spend US$71 million in 2023 on expansion works of Newport World Resorts, located alongside Manila’s Ninoy Aquino International Airport.
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