Newport World Resorts EBITDA rises 8% in 9M26
Newport World Resorts delivered stronger earnings during the first nine months of 2026, with its operator recording higher profitability despite weaker contributions from VIP gaming. The improvement highlights the growing importance of hotel, food and beverage, and other non-gaming operations in supporting the performance of the Philippine integrated resort.
Travellers International Hotel Group Inc., which owns and operates Newport World Resorts in Manila, reported earnings before interest, taxation, depreciation and amortisation (EBITDA) of PHP6.1 billion for the nine months ended September 30, 2026. This represented an 8% increase compared with the corresponding period last year.
Net revenue reached PHP23.1 billion, while operating costs remained relatively stable throughout the reporting period. The combination of revenue growth from non-gaming activities and cost discipline helped the operator maintain earnings momentum as VIP gaming revenue softened.
The latest results indicate that the business is benefiting from a broader revenue base rather than relying exclusively on casino operations.
Newport World Resorts EBITDA growth supported by non-gaming revenue
Non-gaming revenue emerged as a major contributor to the operator's nine-month performance. Travellers generated PHP5.9 billion from non-gaming activities, representing a 16% year-on-year increase.
The segment includes income from hospitality, dining, food and beverage, and other leisure-related operations associated with the integrated resort. Its contribution helped offset weaker VIP gaming performance and supported the increase in overall EBITDA.
Growth also accelerated towards the end of the reporting period. Non-gaming revenue increased by 23% year-on-year in the third quarter alone, indicating stronger momentum in activities outside the casino floor.
Hotel, food and beverage revenue rose by 11% during the same quarter. This suggests that the resort's hospitality and dining businesses continued to attract customers even as its VIP gaming segment faced softer conditions.
For an integrated resort operator, this distinction matters. Hotel stays, restaurants, retail and entertainment can generate revenue from visitors who may not participate in casino gaming. These activities also allow the property to capture a wider share of visitor spending.
The figures nevertheless need to be viewed in the context of the operator's overall financial performance. Non-gaming growth supported earnings, but it does not establish that every business segment experienced stronger demand or improved profitability.
Softer VIP gaming revenue highlights changing business mix
The operator's results also point to the challenges of maintaining growth when higher-value casino customers contribute less revenue.
VIP gaming is an important part of the Philippine casino market, but its performance can be affected by changes in customer activity, spending patterns and market conditions. A decline in this segment can weigh on casino revenue even when other parts of an integrated resort perform well.
Travellers' nine-month results demonstrate how non-gaming operations can provide a partial counterbalance. The 16% increase in non-gaming revenue helped support EBITDA growth while VIP gaming remained softer.
This does not necessarily mean that non-gaming activities have replaced casino gaming as the principal earnings driver. Instead, the results show the value of maintaining multiple sources of income within a large hospitality and entertainment property.
The operator's ability to keep operating costs steady was another important element. Revenue growth does not automatically translate into higher earnings, particularly when labour, utilities, maintenance and other expenses are increasing. Stable costs helped Travellers convert its improved non-gaming performance into stronger EBITDA.
The next reporting periods will provide a clearer indication of whether this revenue mix can sustain profitability if VIP gaming conditions remain challenging.
Westside Resorts Manila adds to expansion plans
Beyond its existing operations, the group is preparing to expand its presence in Manila's integrated resort market through Westside Resorts Manila.
Alliance Global Group president and chief executive Kevin Tan said the development was scheduled to open by the end of 2026. The project is expected to add leisure capacity to the group's existing portfolio as it pursues further growth across hospitality and entertainment.
Westside Resorts is located in Entertainment City, Manila's established integrated resort district. The development is valued at approximately US$1.25 billion and is expected to include hotel accommodation, casino facilities, restaurants, retail outlets and entertainment offerings.
The project is being undertaken through Entertainment City Resorts Corp. Travellers assumed control of the development following a restructuring in September 2025. Suntrust Resort Holdings retains an indirect 20% interest in the project-owning company.
The casino component is expected to operate under Travellers' gaming licence, connecting the new development to the group's existing gaming operations.
The revised year-end opening timetable follows an earlier target for the third quarter of 2026. The latest announcement therefore places the project beyond its previous expected launch window.
Its eventual contribution will depend on the opening schedule, the pace at which facilities become operational and the ability to attract visitors in a competitive Manila market.
Philippine integrated resort competition enters another phase
The combination of improved non-gaming revenue and planned expansion reflects a broader strategic consideration for Philippine integrated resort operators: maintaining visitor spending across multiple business categories.
Casino operators compete not only through gaming facilities but also through hotel standards, dining experiences, entertainment attractions and overall visitor convenience. These offerings can help properties appeal to domestic tourists, international travellers and business visitors.
For Newport World Resorts, the latest financial performance provides evidence that non-gaming activities are contributing meaningfully to earnings. However, sustained improvement will require the operator to preserve customer demand while managing costs and navigating changes in casino revenue.
Westside Resorts Manila could introduce additional capacity to an already competitive market. Its launch may create opportunities for Travellers to expand its customer base, although the investment will also bring operational demands and the need to establish a consistent level of visitor traffic.
The upcoming quarters will be important in determining whether the operator can maintain its current earnings trajectory. Investors and industry observers will be watching non-gaming revenue, VIP gaming performance, operating expenses and the progress of the Westside development.
For now, Travellers International's 8% EBITDA increase demonstrates how a diversified integrated resort business can maintain earnings growth despite uneven performance across its revenue segments.
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iGamingToday
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