Travelers International Hotel Group, operator of Manila’s Newport World Resort, reported total gaming revenue of P34.2 billion (US$600 million) in 2023, up 7% year-on-year.
The update, which is part of a press release from parent company Alliance Global Group (AGI), also revealed that EBITDA increased by 8% to PHP 8.2 billion (US$143.8 million); is the highest level since 2012, “despite the rise,” the company said. cost pressure.” Net profit increased 89% year-on-year to P2 billion (US$35.1 million).
Net revenue reached PHP31.9 billion (US$559.5 million), an increase of 19% compared to 2022, due to the revival of tourism and MICE. AGI said this would result in hotel and other revenue reaching P7.4 billion (US$129.8 million), a 40% year-on-year increase.
Companywide, AGI reported record net profit of P30.3 billion (US$531.8 million), up 20% year-on-year, with attributable net income hitting a new high of P19.6 billion (US$344 million). reported that it has been reached. , reflecting a 21% increase over the previous year. Hit consolidated sales rose 15% year-on-year to 211.2 billion pesos (US$3.71 billion).
AGI CEO Kevin Tan said: “2023 was a historic year for the group, with strong performance across all our businesses, led by our real estate, tourism and consumer sectors.”
“This was achieved despite increased competition in domestic and global markets, various macro challenges in some key markets, rising cost pressures and rising interest rates. Most of our business remains at pre-pandemic levels. With this strong performance, we have achieved positive business results across our diverse portfolio, with new highs in sales, EBITDA, net income, and all other operating metrics. We were able to continue with our strategy and expansion plans.”
AGI’s other interests include real estate development with Megaworld Corporation. It manufactures distilled spirits through Emperador, operates McDonald’s franchises in the Philippines through Golden Arches Development Corporation (GADC), and develops infrastructure through InfraCorp.
