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Market · Fri 17 Jul · 2 min read

Alliance Global locks in full Newport control

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What happened

Alliance Global Group has completed its acquisition of Genting Hong Kong's remaining stake in Travellers International Hotel Group, the operator of Newport World Resorts in Manila's Entertainment City. The deal was first agreed in May 2023, making the closing more than two years after the initial agreement and more than three years after Genting HK's financial difficulties began forcing asset disposals. Alliance Global now holds full ownership of Travellers International, ending a joint venture structure that had been in place since Newport's development.

Why it matters

Sources: GGRAsia

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