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Travellers International's net revenues drop 13.5 percent in 15H1

Travellers International, which operates Resorts World Manila, announced that net revenues declined by 13.5 percent due to lower gaming revenues, which amounted to P12.5 billion ($270.4 million) for the six months ended June 30, 2015.

Despite average daily property visits increasing by 5.5 percent, or 19,718 visits, in the first half of 2015 from 18,698 in the same period last year, drop volume declined.

“Drops volume declined in the first half of 2015 as the company continues to approach the VIP segment with more prudence. The decline in drops was offset by an increase in the blended win rate, which is at 5.2 percent for the first six months of 2015 compared to 3.9 percent in the same period last year.”

The company’s EBITDA for the first half of 2015 was P3.52 billion compared to P4.05 billion in the same period last year. 

Operating profit decreased to P2.87 billion from P3.25 billion in the same period in 2014.

Revenue from hotel, food, beverage was P1.16 billion, up 4.2 percent as all hotels registered high occupancy rates averaging 86 percent

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