After Resorts World Manila attack
Philippine casino stocks drop
Travellers International Hotel Group, a joint venture between Malaysia's Genting Group and the Philippines' Alliance Global Group (the company behind Resorts World Manila), led the losers.
2017-06-05
Reading time 28 seg
Travellers International Hotel Group, a joint venture between Malaysia's Genting Group and the Philippines' Alliance Global Group (the company behind Resorts World Manila), led the losers.
Manila's benchmark index dropped 0.25%, while the Nikkei Asia300 Philippine index dipped 0.18%, making it the lone loser among Nikkei's regional indexes, Nikkei Asia Review reported.
Although Philippine police ruled out terrorism as a motive and classified the casino attack a likely robbery, other gaming related stocks were not spared by the sell-off.
Bloomberry Resorts, which runs Solaire casino, lost 5.58%. City of Dreams Manila owner Melco Resorts and Entertainment Philippines, formerly Melco Crown Philippines Resorts, gave up 4.26%. Belle Corp., which owns the land under City of Dreams Manila, dropped 4.03%
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