Sunday, August 14, 2022

Travellers allocates $236 million for Resorts World Manila expansion


Travellers International Hotel Group Inc announced on the stock exchange that it has so far put aside about PHP10.86 billion ($236 million) of the proceeds from an initial public offering to fund the expansion of Resorts World Manila.

The company, which is engaged in principally the casino and hotel business, invested PHP2.05 billion in 15Q3 to expand the resort following a November 2013 IPO through which the company issued an additional 1,573,222,300 common shares generating net proceeds of P16.5 billion.

The second phase of the property, which includes the expansion of the Marriott Hotel Manila by an additional 227 rooms, is expected to be ready by 16Q1. 

Phase three will see the expansion of the Maxims hotel and launch of two new hotels.

 

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

3rd party / Cookies
Show settings
Contact us

ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264

Asia Gaming Brief