Casino News

Resorts World Manila Walks Recovery Path

Resorts World Manila seems to be on its way to revive its gambling operations after the tragic events on 2nd June this year when a gunman assaulted the casino complex. This tarred Resorts World Manila’s reputation, leaving the entertaining complex at life support. Struggling to win back the trust of its lost players, the Manila-based casino revealed its plan to open new gaming area by the end of the year, which is six months ahead of the initial schedule.

The holding company Alliance Global Incorporated is placing many efforts to stabilize after the fatal attack, as it witnessed a significant drop in its net profit. Resorts World Manila is currently trying to rebuild its reputation on the market in order to compensate for the time, in which the casino suffered a steep decline. Here it is interesting to note that the closure of Resorts World Manila’s gambling area cost the company around $1.2 million a day.

At the company’s annual general meeting, which took place on 19th September, Alliance Global President Kingson Sian explained that the damaged casino area will be converted into part of the complex’ mall. He admitted that this will result in certain losses for the company and that is the reason why it is of vital importance for the company to speed up the completion of the new gaming area. According to Mr. Sian, 12,000 sqm will be added to the casino floor, which is to feature 650 gambling tables and 4,000 slot machines.

Resorts World Manila Gets Back to Business

Mr. Sian opposed all the beliefs that the assault left a permanent mark on Resorts World Manila. He pointed out that a great number of players are already back, as the casino registers around 26,000 visitors per day in comparison to 28,000 prior to the casino storm. Alliance Global subsidiary Travellers International Hotel Group Incorporated, which owns and operates Resorts World Manila, has reported that its net income dropped by P312.09 million for Q2 2017. To get back to business, the holding company announced a share repurchase program, aiming to rise the company’s value per share on the market.

Prior to launching the casino expansion plan, the company reported that it already took care to enhance its security systems, as it was accused of a security breach. It seems that Resorts World Manila started to climb out of the hole, gaining back the trust of its customers. Supposing that the company continues to recover with the same fast pace, it may even outperform its previous success.