Resorts World Manila returns to big profits in 2018

In 2018, Travellers International Hotel Group Inc. was undoubtedly hoping for a return to normalcy and big profits. It looks like they got just that, as the owner and operator of Resorts World Manila reported a profit of PHP1.4 Billion ($26.6 million), almost 400 percent better than 2017.

Of course, 2017 couldn’t have gone much more poorly. The June 1, 2017 lone gunman robbery and arson of Resorts World Manila shut down the casino for the month, causing the senseless death of 38 people, a loss of revenue, and huge renovation costs.

Because of that attack, Travellers had a PHP312 million ($6 million) loss for Q2 2017, and reduced profits for the year to PHP241 million ($4.61 million), which was a 92% drop from 2016.

These 2018 numbers haven’t caught up yet to those 2016 numbers, they’d need to more than double to do that, so the damage is still there, but at least there’s signs of growth.