Published
Land-BasedCasinoFinancialIndustry

Alliance Global: PHP75bn to sustain 2024 growth plans, election of Board of Directors

The company announced both its agenda during its annual stockholders’ meeting on 18 July 2024.

meeting outcome
Listen To Article

Philippines-listed Alliance Global (AGI) has announced its upcoming plans, as well as new directors, after its recent annual stockholders’ meeting.

In regards to the company’s direction and goals, it will be allocating a capital expenditure (CAPEX) of PHP75bn (US$1.29bn) this year to “sustain its recent growth pace.” This was an increase of 19% from its actual spend of PHP63bn (US$1.08bn) in 2023. 

The bulk of the CAPEX,  PHP55bn, would be allocated for Megaworld to “expand its real estate portfolio to 35 townships this year with the launch of new developments outside of Metro Manila.”

PHP10bn would go to Travellers International for its ongoing expansion project Newport World Resorts complex in Pasay City and its Westside City development.

“AGI remains steadfast and dedicated to driving growth across all its business segments, mindful of its goal to elevate global consumer preferences through aspirational product offerings,” AGI President and CEO Kevin Tan said during the meeting.

Also mentioned was the election of its Board of Directors. 

Andrew Tan, Kevin Tan, Katherine Tan and Lourdes Gutierrez-Alfonso were elected as regular directors while Jesli A. Lapus, Enrique M. Soriano III, and Anthony T. Robles were elected as Independent Directors. 

Punongbayan & Araullo were named as the company’s Independent Auditors for the current calendar year.

In June previously, Alliance Global refuted claims of financial scandal over the change of Newport Resorts’ senior leadership.


Casino News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Soft2Bet
Scientific Games
Digitain Malta
Follow Us

Facing Facts: Q3 2024 analysis

Gambling Insider takes a look at the Q3 results of operators...

Taking stock: The final count of 2024

Gambling Insider tracks operator and supplier prices of some...

CEO Special: Flutter CEO Peter Jackson – Playing to win

As the biggest publicly traded operator in gambling meets th...

CEO Special: Holland Casino CEO Petra de Ruiter – High flier

Petra de Ruiter, Holland Casino CEO, speaks to Gambling Insi...

A welcome from your host

A message from the Founder of the Global Gaming Awards and G...

From the event manager

A message from the Event Manager of the Global Gaming Awards...

From the Awards adjudicator

KPMG in the Crown Dependencies is the official voting adjudi...

The process

The Global Gaming Awards have deservingly earned the reputat...