Philippines’ Alliance Global completes Newport buyout
Alliance Global Group Inc. (AGI) has completed its acquisition of Genting Hong Kong’s remaining interests in Newport World Resorts and related companies, formally ending a partnership that began with the opening of Resorts World Manila in 2009.
“All conditions precedent to the acquisition of the Sellers’ equity interests in Travellers International Hotel Group, Inc. (TIHGI), doing business under the name Newport World Resorts; Westside City Inc. (WCI); and Adams Properties, Inc. (API), have been fulfilled,” AGI said in its Philippine Stock Exchange (PSE) filing.
“Accordingly, the transaction has been completed, with the corresponding shares successfully transferred to NWRPI as of 15 July 2026.”
Three-year acquisition reaches completion
The acquisition covers the shares previously held by Star Cruises Philippines Holdings B.V., Asian Travellers Ltd. and Premium Travellers Ltd.
“The ultimate parent entity of the Sellers is Genting Hong Kong Limited. As a result of the completion of the transaction, Genting Hong Kong Limited has fully divested its investments in TIHGI, WCI, and API, and no longer holds, directly or indirectly, any equity interest in these entities,” the company said.
It added that those interests “are now directly held by NWRPI.”
The latest filing updates AGI’s disclosure made in May 2023, when it announced it had signed the share purchase agreement to acquire Genting Hong Kong’s interests. While the agreement was reached more than three years ago, completion depended on the fulfilment of conditions set out in the transaction.
The financial terms of the acquisition were not disclosed in either the original announcement or the latest filing.
Partnership dating back to 2009 ends
The completion formalises AGI’s full ownership of Travellers International Hotel Group, the operator of Newport World Resorts, one of the Philippines’ largest integrated resort developments. The deal also includes Genting Hong Kong’s interests in Westside City Inc., which is developing the Westside Resort project in Manila’s Entertainment City, and Adams Properties Inc.
The transaction marks the end of a long-running partnership between AGI and Genting Hong Kong that helped establish the country’s first integrated casino resort.
The two companies launched Resorts World Manila in 2009 under a joint venture in which AGI held a 60 per cent stake and Genting Hong Kong owned the remaining 40 per cent.
Following the collapse of Genting Hong Kong’s cruise business, the resort was rebranded as Newport World Resorts in July 2022. Genting Hong Kong entered liquidation in January 2022 after financial difficulties linked to its German shipbuilding subsidiary triggered loan defaults across the group. Liquidators subsequently began disposing of the company’s assets, including its Philippine gaming interests.
The Newport World Resorts stake remained one of Genting Hong Kong’s key assets until AGI agreed to purchase it in 2023.
Newport’s online gaming venture
The ownership transition comes as Newport World Resorts continues to expand its digital gaming operations. In April, Travellers International Hotel Group partnered with PhilWeb Corp. to provide the technology infrastructure, system support, content integration and operational services for NWPRPlay, the PAGCOR-regulated online gaming platform, subject to regulatory approval. The deal forms part of PhilWeb’s strategy to strengthen its role as a business-to-business technology provider in the regulated online gaming sector.
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