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In the second quarter of 2025, Newport World Resorts (NWR)—operated by Travellers International Hotel Group under Alliance Global Group (AGI)—delivered a remarkable financial rebound. Riding on robust growth in the mass gaming segment and diligent cost management, NWR’s EBITDA rose sharply by 21% quarter-on-quarter, reaching PHP 2.5 billion (approximately US$44.1 million). This impressive quarterly leap also contributed to a healthier half-year performance, with 1H25 EBITDA posting an 11% year-on-year gain to PHP 4.5 billion (US$79.4 million).

On the revenue front, gross gaming revenue (GGR) stood at PHP 7.5 billion (US$132 million) for the quarter—a slight decline from the PHP 7.9 billion (US$139 million) logged in Q1. Still, non-gaming revenues held steady at PHP 1.7 billion (US$30 million), buoyed by strong hotel occupancy pegged at 90%. The resiliency of the non-gaming arm, anchored by hospitality and leisure offerings, continues to be a stabilizing force as NWR navigates fluctuations in gaming revenues.

Beyond NWR itself, AGI as a whole delivered a commendable performance in the first half of 2025. Group-wide net income surged by 39% to PHP 19.2 billion (US$339 million), with normalized net income—excluding a one-time gain from the deconsolidation of Golden Arches Development Corp (GADC)—rising 19% to PHP 15.1 billion (US$266 million).

This turn toward profitability follows a strong Q1 trajectory for Newport. In the first quarter, adjusted EBITDA had already soared by 42% year-on-year to PHP 2.1 billion (US$37.7 million), propelled by growing gaming revenues and heightened cost efficiencies. At that time, GGR had climbed 6% year-on-year to PHP 7.9 billion (US$142 million), supported by an improved hold rate in the VIP segment, while promotional allowances dropped 3% thanks to tighter controls over gaming points and sharing arrangements.

These recent quarters represent a notable turnaround from the challenges NWR faced in 2024, when VIP revenues underperformed and overall income took a hit. Despite a drop in EBITDA in earlier quarters—such as a 35% decline in 4Q24—NWR had been steadily focusing on mass-market growth and non-gaming recovery, which now appears to be paying dividends.

Looking further back, Newport's performance in 2023 had already been encouraging, with gross gaming revenue hitting a record high of PHP 34.2 billion and non-gaming income surging 40% to PHP 7.4 billion—efforts which helped lift EBITDA by 8% to PHP 8.2 billion. The current trend builds on that foundation and underscores NWR’s resilience amid shifting market dynamics.

Beyond current operations, Travellers is also strategically expanding, set to take a majority equity position in the development of Manila’s LETX integrated resort in Westside City. This move should allow them to complete the project and manage operations once it launches, marking another growth chapter for the group.