Newport World Resorts, previously known as Resorts World Manila, has experienced a 90.3% surge in gross gaming revenue in 2022, amounting to PHP31.83 billion ($568.4 million).
Strong gaming revenue surge at Manila’s Newport World Resorts
While this marks a strong annual increase, it is a 51.9% decrease compared to 2020. Travellers, the owner and operator of the Manila resort, which is a subsidiary of Alliance Global Group, disclosed that the easing of mobility restrictions had a favorable impact on the resort’s business operations, enabling it to operate at full capacity throughout the year.
Travellers’ full-year revenue in 2022 climbed 104% to PHP26.9 billion ($480.3 million), and 4Q22 revenue increased 164% yearly to PHP8.6 billion ($153.5 million). The report further reveals that the net gaming revenue improved, with an overall increase in all gaming segments.
The group attributed this to the operation of 455 tables, 2,223 slot machines, and 100 EMGs across the property. Gaming revenue contributes about 11.8% of Alliance Global Group’s total revenues.
The report also highlights that non-gaming revenue at the resort surged by 86% year-on-year, reaching PHP5.3 billion ($94.63 million), driven by the recovery of average room rates, the return of corporate events, and various MICE activities.
Additionally, hotel occupancy across the property averaged 66% in 2022. Newport World Resorts comprises five hotels, namely the Marriott Hotel Manila, Hilton Manila, Sheraton Manila, Holiday Inn Express Manila Newport City, and Hotel Okura Manila.
According to Dennis Hudson, the Senior Director for Table Games, the Group’s Phase 3 development, including the addition of Hotel Okura, has concluded, and the Group has proceeded with new renovations, such as additional VIP gaming areas and retail stores, set to launch by August.
Hudson anticipates that gaming revenues will recover to their 2019 levels by the third quarter of this year and then continue to grow.
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