Travellers International Hotel Group Inc, the owner and operator of the Newport World Resorts (NWR) casino complex in Manila, exhibited a “remarkably stronger” performance in 2023. Growth in its casino mass-market segment offset a decline in VIP business, as reported in the 2023 annual report of its parent company, Alliance Global Group Inc, filed with the Philippine Stock Exchange this week.
Gross gaming revenues (GGR) for Travellers International increased by 7.5 percent to a record PHP34.2 billion in 2023. Promotional allowances decreased by 5.2 percent year-on-year to PHP9.7 billion, reflecting a reduction in VIP gaming activity, according to the parent company.
Net gaming revenues for Travellers International rose by 13.4 percent year-on-year to PHP24.5 billion. The reporting period showed higher drops in the mass segment, surpassing pre-pandemic 2019 levels. Casino volume increased by 4 percent, driven mainly by growth in the non-VIP and slot segments.
Newport World Resorts currently hosts five international hotel brands: Marriott Manila Hotel, Sheraton Manila Hotel, Hilton Manila, Hotel Okura Manila, and Holiday Inn Express Manila.
At the end of 2023, the group’s gaming business included 416 VIP and mass-gaming tables and 2,068 slot machines. The company launched additional VIP gaming areas in 2023 with the opening of the Grand Club. Retail stores at the complex’s Grand Wing area “will soon be opened,” offering “unique customer experiences across a variety of gaming and non-gaming amenities,” the parent’s annual report added.
Travellers International recorded revenues of just above PHP31.6 billion, a 17.3 percent increase year-on-year. Net income grew by 89.2 percent year-on-year to PHP1.99 billion.
