Travellers International Hotel Group reported a 414 percent surge in net profit in 2018 as operations at the company’s flagship Resorts World Manila returned to normal after the 2017 attack that left 36 dead and more than 70 injured.
Located across from the capital city’s Ninoy Aquino International Airport, the sprawling four-hotel complex, which includes restaurants, cinemas, a shopping mall, nightclubs and a theater, was closed for 27 days after the attack, which occurred in the early morning hours of June 2 when a lone gunman opened fire on the casino floor, apparently after a botched robbery attempt, and set fire to several gaming tables.
For 2018, Travellers reported profit of PHP1.44 billion (US$27.5 million) on a 17 percent jump in gross revenues to PHP24.7 billion (US$471.5 million) as gaming volume at Resorts World Manila surged by 36.8 percent year on year (+59.1 percent in the VIP segment), boosting gaming revenue by 17 percent to PHP20 billion ($381.7 million)
An expansion of the gaming area with the opening of the Grand Wing played a big role, boosting table game inventory to 299 from 244 and machine games to 1,822 from 1,381.
Non-gaming revenue was similarly robust, increasing 17 percent year on year to PHP4.7 billion ($89.7 million) as visitation grew by 11 percent.
Hotel occupancy for the year finished at 79 percent across 1,811 rooms and suites.
