Travellers International, the operating entity of Manila’s Newport World Resorts (NWR), has reported a 16.5% year-on-year decrease in gross gaming revenue in the March 2026 quarter, pointing to overall weakness in the VIP sector.
The update formed part of parent company Alliance Global Group’s (AGI) 1Q26 earnings release, which showed GGR at Php6.6 billion (US$107 million) – down from Php7.9 billion (US$128 million) a year earlier. This was on consolidated net revenue of Php7.0 billion (US$114 million) and gross revenue of Php8.6 billion (US$140 million) at NWR.
Adjusted EBITDA of Php1.7 billion (US$27.6 million) was down 19.0% year-on-year.
In its filing, AGI said the “resilient mass segment cushioned the impact of overall weakness in VIP gaming,” while “intensified cost management efforts” supported EBITDA. The decline in VIP reflects similar performance across all of Manila’s integrated resorts.
It noted that non-gaming revenue grew 10% year-on-year to Php2.0 billion (US$32.5 million), driven mainly by higher average hotel rates and improved retail spending within the NWR complex.
Group-wide, AGI reported a 1% increase in consolidated revenues to Php42.2 billion (US$685 million), with net income up 6% to Php7.4 billion (US$120 million).
“AGI had an optimistic start; first-quarter results reflected healthy residential sales, strong leasing revenues, sustained improvement in the hospitality business and the nascent recovery in spirits sales. These businesses continued to perform well even against a demanding macroeconomic and geopolitical backdrop,” said AGI’s CEO and President, Kevin L. Tan.
“Our first quarter performance is supported by ongoing cost discipline, embedded in our operations. This allowed our Group to gain operating leverage, while we continue to implement our aggressive business strategies. Overall, we have maintained our financial prudence, which helps us stay on course even in this challenging environment.”
AGI’s interests include real estate developments through property giant Megaworld Corporation; spirits manufacturing through Emperador Inc.; leisure, entertainment and hospitality through Travellers; and quick service restaurants through Golden Arches Development Corporation, better known as McDonald’s Philippines.
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