The owner and operator of Philippine casino and leisure complex Newport World Resorts in the capital Manila, said fourth-quarter overall revenues rose 164 percent year-on-year, to PHP8.60 billion (US$153.6 million). Fourth-quarter gaming revenues were said to have risen 133 percent year-on-year, as “overall drops across all gaming segments improved”, according to a Tuesday filing.
Full-year profit attributable to the owner was nearly PHP1.06 billion, compared to a loss of just under PHP568.9 million in 2021.
The information was in a filing to the Philippine Stock Exchange on Tuesday from local conglomerate Alliance Global Group Inc, the controlling entity of Travellers International Hotel Group Inc.
Tuesday’s filing stated that phase 3 of Newport World Resorts had been completed with the opening of the 190-room Hotel Okura Manila. Newport World Resorts currently has five international hotel brands: Marriott Manila Hotel, Sheraton Manila Hotel, Hilton Manila, Hotel Okura Manila, and Holiday Inn Express Manila.
