Philippine-listed casino operator Travellers International Hotel Group, Inc. (TIGHI) posted a PHP312.09 million (US$6.09 million) net loss in second quarter of the year.

Many analysts have expected Travellers to incur a multi-million dollar net loss especially after it closed the gaming doors of Resorts World Manila in the light of the June 2 Resorts World Manila arson attack, that claimed 38 lives.

“Due to the closure of the casino in June, drop volume in the months of January to May translates into the drop volume run rate for the 1st half,” Resorts World Manila said in a disclosure.

In a disclosure to the Philippine Stock Exchange, Travellers reported that the net loss in the second quarter dragged the casino operator’s net income for the first of 2017 by 79 percent to P374.77 million (US$6.8 million) year-on-year.