Resorts World Manila operator Travellers International Hotel Group Inc. said net income surged 414 percent in 2018 to P1.44 billion from P280 million in the previous year on the back of a double-digit growth in gaming revenues.
TIHGI said in a disclosure to the stock exchange net revenues rose 10 percent to P20.56 billion billion, driven by both gaming and non-gaming segments.
Gross gaming revenues increased 17 percent to P20 billion supported by the sustained growth in all gaming segments.
Gross gaming revenues in the fourth quarter rose 45 percent to P6.26 billion from P4.3 billion year-on-year.
Gaming capacity increased to 299 tables and 1,822 slot machines as of end December 2018 from 244 tables and 1,381 slot machines as end December 2017. The increase was primarily due to the opening of the ground floor gaming area of the Grand Wing.
Non-gaming revenues, meanwhile, rose 17 percent to a record high of P4.7 billion.