The Fire Attack In 2017
Last June 2017, the biggest news in the history of casino burst out, which surprised everyone in the country. The fire attack was caused by a gunman who went on a storm in the casino complex. After the main event, 38 people were found dead inside the said building while 67 were injured. According to the report of Resorts World, what caused the death of these people was thick smoke due to the massive fire that consumed the second floor of the casino. Now that 2 years have passed, Travellers International Hotel Group, Inc. (TIHGI) is planning to launch the re-opening of the second floor of its casino. Is it time that Resorts World makes amends to its lost revenues after the fire attack? Let’s take a look at the rest of the details about their plan.
Catch me in my live training events! (quick plug)
The heart of why I do these seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! If you would like to know more about how you could time the market check out the trainings below.
Stock Smarts Manila — June 15, 16, 22, 23, & 29, 2019
Stock Smarts Iloilo – July 6 & 7, 2019
Stock Smarts Cagayan De Oro – July 20 & 21, 2019
Stock Smarts Hong Kong – August 11, 2019
Stock Smarts UAE – August 30 – September 3, 2019
Stock Smarts Qatar — October 3 – 6, 2019
Stock Smarts Taiwan – November 2, 2019
Resorts World To Reopen
TIHGI, the operator and owner of the famous Resorts World Manila (RWM) in Pasay City is expecting a double-digit increase in its gross gaming revenues or what is known as their GGR. This is aligned with its plan to reopen the second floor of its casino this coming July after the fire attack that happened 2 years ago. The second floor will be a whole new gaming space as they move towards expanding their casino business. After years of renovation, RWM can finally bring back its second floor to give more rooms for gamers. Though it will not mirror the previous space, it is definitely a better gaming space for everyone.
Casino’s New 2nd Floor
The new gaming floor of Resorts World’s casino will consist of 100 gaming tables and 600 slot machines, covering a total of 7,000 square meters. According to TIHGI, the reconstruction of its new floor is parallel to its plan to expand its casino gaming space. The company is also planning not only to attract new local customers but as well as foreign players. The new gaming floor will serve as a new junket place for potential and existing players. With the opening of the new 2nd floor, Resorts World will have a total of 1,000 slot machines and 165 gaming tables located in Grand Wing. Meanwhile, its Garden Wing has a total of 1,300 slot machines and 200 tables.
TIHGI’s Outlook
When the new floor reopens, the foot traffic is expected to grow to 40,000 to 50,000 by next year. This is higher compared to the average foot traffic in 2018 which was 28,500. The new floor will provide more gaming space, which is more improved than before. And when it comes to GGR, the company looks forward to a double-digit increase because of this expansion. TIHGI’s plan is to sustain its revenue as they work hard to complete the new facilities until it opens. Apart from this, the company also plans to add more hotel rooms since it’s about to unlatch Hotel Okura Manila by the end of 2019.
