This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the series of events that we’ve run in Manila for the past two years via the addition of the first ever IAG Exhibition. This means visitors can now enjoy a full suite of industry events over the course of three days from 8 to 10 September, with the IAG Exhibition joining welcome event Manila After Dark, educational series the IAG Academy Summit and the celebratory IAG Academy IR Awards in a packed week.
It is also fitting that this new beginning for IAG is taking place at Newport World Resorts (NWR), which itself has been refreshed under the leadership of Kevin Tan over the past year. Not to come across as sycophantic towards the property that is hosting IAG EXPO this month, but the NWR story – truly impressive given the challenging conditions facing Manila’s land-based casino market right now – is one that has not garnered the attention it deserves.
Recall it was June 2024 when NWR underwent a massive shakeup of its leadership team, with the CEO, COO and CFO all departing suddenly on the same day – the reasons for which having never been disclosed quite as thoroughly as they could have been.
Prior to that event, NWR ranked third among Manila’s four Entertainment City IRs, with gross gaming revenues of Php34.2 billion (US$602 million) – equating to nationwide market share of around 12%, or a share within Entertainment City of 20%. By comparison, Manila’s long-time market leader Solaire held more than 21% of the nationwide market and around 35.5% of the market in Entertainment City.
But times have changed, and NWR is suddenly mixing it with the big boys.
In its 1Q25 earnings release, NWR operator Travellers reported gross gaming revenues of Php7.9 billion (US$139 million) for the quarter – representing a 6% year-on-year and 3% quarter-on-quarter increase. That may not sound like much, but consider the fact that all three of its Entertainment City rivals suffered significant declines during that same period. Solaire, for example, reported an 18% decline in GGR to Php12.1 billion (US$213 million), Okada an 11% decline to Php7.8 billion (US$137 million) and City of Dreams Manila by 13% to Php6.2 billion (US$109 million).
Notably, this meant that NWR moved ahead of Okada Manila into second spot and with market share among Manila’s Entertainment City IRs of greater than 23%. It also stood out that NWR made its gains in VIP – a segment that has proved difficult for all operators since the President announced last year a ban on offshore gaming operators, or POGOs.
Travellers’ 2Q25 financial results were more tempered although the company said mass gaming volumes showed solid growth and sources have informed IAG that NWR even managed in June what many once thought was impossible – beating Solaire for GGR and market share.
Given its prime location alongside Manila’s main airport, its expansive facilities including five hotels and its impressive gaming amenities, it stands to reason that NWR should be making its presence known. Now, it seems, the property is finally living up to its potential.
