The Alliance Global Group in the Philippines and Genting Bhd in Malaysia created a joint venture company called the Travellers International Hotel which was responsible for operating the Resorts World Manila casino. Travellers recently announced that Resorts World Manila had recorded an improvement in gross gaming revenue (GGR) during the second quarter of this year and overall growth increased by three percent.

Travellers submitted a filing with the Philippine Stock Exchange on August 15 stating that it had made a second quarter profit of PHP 638 million ($13.7 million) and attributed its success to the growth it experienced in its gaming business. Resorts World Manila brought in PHP 6.2 billion (US$133.18 million) to record a nine percent increase in GGR during the second quarter of 2016 when compared to the same period in 2015. This was because of a better win rate and an increase in volumes across gaming and non-gaming activities.

The non-gaming segment of the business which includes food and beverages, hotel accommodation and other revenues also witnessed positive results, recording a 7 percent growth rate of PHP 920 million (US$ 19.76 million). The resort which has three hotels – Marriott Hotel Manila, Remington Hotel and Maxims Hotel, has a combined room count of 1,226 and had a good occupancy rate which stood at 87 percent. The Marriott Grand Ballroom which is the biggest ballroom in the Philippines brought in PHP 93 million (US$2 million) in revenue which was a fifty percent growth when compared to the same period last year.

In a statement, Kingson Sian, chief executive officer and president of Travellers said  “With key tourism indicators showing growth year-over-year and ongoing major infrastructure developments, we anticipate that the local integrated resort industry will continue to grow as the Philippine economy continues to be strong and full of potential.”

Travellers stated that the Resorts World Manila would have posted even better results if it wasn’t for an increase in total expenses during the second quarter. While direct expenses remained flat at PHP 2.6 billion (US$ 55.85 million), administrative and general expenses went up by 31.7 percent to PHP 2.7 billion (US$58 million). The promotional allowance for junket commissions also dropped down by 41.8% to PHP 622 million (US$13.36 million).

Travellers also reported that its current cash position ending June 30, 2016 stood at PHP 12.9 billion (US$277.09 million) and would allow the company to continue its aggressive expansion plans. Resorts World Manila is currently in the process of completing the second phase of its expansion which includes adding another 228 rooms to the Marriott West Wing before the end of 2016. A Phase 3 expansion project is also planned and will include additional gaming space, new retail outlets, 6 basement parking decks and the development of three new hotels – Maxims II, Hilton Manila and the Sheraton Manila Hotel which are expected to be completed by 2018.