Resorts World Manila grows by 33% over the last quarter

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Resorts World Manila

Resorts World Manila reported a 33% increase in gaming revenue in Q4 compared to Q3. However, no more details were provided. Travelers do not reveal their financial results after delisting from the Philippine Stock Exchange in 2019.

Travellers International, a joint venture between Alliance Global and Genting Hong Kong, operates RWM.

Despite its limited operations for the year due to restrictions during the pandemic, RWM EBITDA for 2020 was PHP425 million. Non-gaming revenues totaled PHP2.8 billion, bringing the total revenue for the year to PHP9.4 billion.

RWM previously reported a net loss of PHP1.7bn in Q3 2020 and a net loss of PHP5.4bn in the nine months till September. During the same period, gross revenues were PHP11.5 billion, and gross profit was PHP9.3 billion.

Despite the decline in numbers during the current pandemic, Andrea Domingo, president of the Philippine Amusement and Gaming Corp (PAGCOR), said RWM is one of the few casinos that can run online table games and slot machines.

Online casino services is a new initiative from the regulators to allow casinos to provide online gaming services to local Philippines players. The new licenses, on the other hand, are yet to issue. “Everything is at a limit because we need to regulate them,” Domingo explained. “Due to non-proliferation and responsible gaming, not just anyone can play.”

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Nassima Azmzm

Nassima Azmzm

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