TRAVELLERS International Hotel Group Inc., the listed operator of Resorts World Manila (RWM), said its net income declined 15.4 percent in 2016 on lower revenues from the VIP gaming business and higher finance costs due to the depreciation of the peso against the US dollar.
In a disclosure on Thursday, Andrew Tan-led Travellers announced P3.4 billion in net profit for 2016 compared to the P4 billion recorded in 2015. Revenues were relatively flat at P27.5 billion last year from P27.7 billion in 2015.
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