According to a filing to the Philippine Stock Exchange by its parent company, Alliance Global Group Inc., Travellers International Hotel Group Inc., the proprietor and manager of the Newport World Resorts casino complex in Manila, the capital of the Philippines, experienced a notable increase in gross gaming revenues (GGR). The GGR surged by 7 percent, reaching a record-breaking PHP34.2 billion.
The parent company stated that Travellers International achieved unprecedented milestones in 2023, with net revenues soaring by 19 percent year-on-year to PHP31.9 billion. This remarkable growth was attributed to the resurgence in tourism and activities related to meetings, incentives, conferences, and exhibitions (MICE), which facilitated a remarkable 40 percent year-on-year surge in hotel and other revenues, amounting to PHP7.4 billion.
Despite encountering escalating costs throughout 2023, Travellers International saw its earnings before interest, taxation, depreciation, and amortization (EBITDA) increase by 8 percent year-on-year to PHP8.2 billion. This achievement marked the highest level since 2012, as highlighted in Tuesday’s filing.
The parent company reported that Travellers International’s net income exhibited robust growth, skyrocketing by 89 percent year-on-year to approximately PHP2.0 billion.
Notably, Newport World Resorts presently accommodates five renowned international hotel brands: Marriott Manila Hotel, Sheraton Manila Hotel, Hilton Manila, Hotel Okura Manila, and Holiday Inn Express Manila.
Last June, Alliance Global confirmed its intention to explore new locations for expanding its integrated resort business. However, the firm emphasized that no concrete plans had been established regarding the locations or timelines for implementing these expansion strategies.
Newport World Resorts also provide an online gaming platform to its members. 2023 has been a very good year in the gaming industry and all operators are looking forward to repeat the same success in 2024 again.