AGI said in a disclosure to the stock exchange Tuesday subsidiary Newport World Resorts Properties Inc. signed a share purchase agreement for the acquisition of the shares of Star Cruises Philippines Holdings B.V., Asian Travellers Ltd. and Premium Travellers Ltd. in Travellers International Hotel Group Inc.
The Genting HongKong group owns a 40-percent stake in TIHGI, while AGI holds the remaining 60 percent. Newport World Resorts is a pioneer in integrated resorts development as it started operations in 2009. The property is strategically located right across Ninoy Aquino International Airport Terminal 3.
Gross gaming revenues improved 36 percent year-on-year, while promotional allowance rose 7 percent. This resulted in net gaming revenue growth of 56 percent to P6.1 billion in the first quarter, AGI said.