Operator News
Philippines – Resorts World Manila to delist from Philippine Stock Exchange
By Phil - 14 August 2019
Resorts World Manila’s owners; Travellers International Hotel Group, a joint venture between Genting and Alliance Global Group, is planning to delist from the Philippine Stock Exchange (PSE) and go private.
Travellers said the move will ‘allow the company to timely address evolving market demands and rapidly changing customer needs without compromising its business strategies to competition.’
It comes as the casino celebrates ten years of operation and as it reports a 50.3 per cent jump in GGR to US$260m in the first half of the year due to opening more gaming space and more hotel rooms.
The new gaming floor brought 36 new table games and an increase in slots from 1,449 to 1,822. s a result, table GGR was up 66.8 per cent to US$3.57bn whilst slot revenue shot up by 32 per cent to US$1.3bn.
Results were also boosted by the opening of 747 new hotel rooms at Hilton Manila Hotel and Sheraton Manila Hotel. Visitation was up at Resorts World Manila up from 25,670 in the first half of last year to 35,626 for the first six months of 2019.
