Resorts World reports P311.2-M net loss after attack


Posted at Aug 14 2017 10:39 AM

Newport Mall's The Plaza. Handout photo

MANILA - The operator of Resorts World Manila said Monday it posted a net loss of P311.2 million in the three months ending in June, during which 38 people were killed in an arson attack in one of its casinos.

It was a turnaround from the P638.2 million net income during the same period in 2016. This brought first half net income to P374.8 million from P1.8 billion during the comparable period last year, Travellers International Hotel Group said in a stock exchange filing.

Gross revenues in the second quarter fell 31 percent to nearly P5 billion from P7.15 billion during the same period in 2016.

Travellers shares were down 0.29 percent to P3.39 after the earnings report was released.

Resorts World president Kingson Sian said the company was "implementing necessary enhancements that ensure safety, security and enjoyment of customers and guests."

A lone gunman believed to be addicted to gambling opened fire and set the casino floor on fire on June, killing himself and 37 others.

Read more about the Resorts World attach here.