Nearly a month after the June 2 attack that claimed 37 lives in a fire started by a disgruntled armed gambler, Resorts World Manila reopened on June 29. Gaming regulator Philippines Amusement and Gaming Corp. (PAGCOR) confirmed that the owner of the casino, Travellers International Hotel Group, had complied with all the ordered upgrades that would prevent another attack of the same kind. Those upgrades included hiring a security firm to assess and improve safety and security systems; adding more x-ray machines and metal detectors; and doubling the number of guards with firearms deployed at the property.
“Travellers International received today the letter of PAGCOR lifting the June 9, 2017 suspension order of the company’s provisional license, noting that the company has taken action to address the issues in its safety and security procedures, as well as the welfare of at least 6,000 strong workforce of the company and their families whose livelihood are affected by the suspension,” the company said in a filing with the Philippine stock exchange.
Resorts World boss Kingson Sian was eager to win back that property’s gaming license and restart operations.
“We told them to formalize their request and we will issue a checklist of all the requirement for a secure and safe environment, which they will have to comply with first,” said PAGCOR Chairwoman Andrea Domingo midway through the closure. The integrated resort had already resumed its hotel and mall operations.
Domingo said she’s aware that the property’s other employees have been hard-hit by the closure. “They have over 6,000 people. They’re paying their salaries now, but the company cannot sustain that indefinitely. These employees may lose their jobs,” she said.
Needless to add, she was also focused on what the government stands to lose if gaming operations at Resorts World sit idle.
“We may not be able to meet our commitment to the Governance Commission for government-owned and controlled corporations of P57 billion in earnings this year, because Resorts World Manila contributes about P4 billion a year,” or up to P14 million (US$278,000) daily.
“For the whole month of June, we could have lost P384 million. If it continues, let’s say for the whole year, that remittance is about P4.5 billion a year. It’s a big problem for us,” Domingo said.
She added that PAGCOR’s new safety measures will be enforced across all the nation’s properties, including Solaire, City of Dreams and Okada Manila.
In the aftermath, analysts and operators are considering the long-term implications of the deadly attack. Geoff Andres, president of City of Dreams Manila told GGRAsia that his venue had faced “some hotel cancellations” from international guests following the attack at Resorts World Manila, but they have tapered off. He said it’s “too early to tell” what impact the Resorts World Manila incident might have on the industry. “After the details were communicated by the Philippine National Police, the cancellations declined. Overall business levels are stable and hotel occupancy remains quite high,” he added.
Brokerage Maybank ATR Kim Eng Securities Inc. expects the Resorts incident will limit gross gaming revenues of RWM operator Travellers International for “the next two to three years.”
