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Jun 4, 2017 @ 18:53

Is P1M enough? Resorts World Manila’s compensation offer to attack victims is loose change ‎compared to nearly P3B profit

 

While P1 million may seem big for some Filipinos, the compensation being offered by Resorts World Manila to the victims of the June 2 attack is just a drop in the bucket for the company.

Travellers International Hotel Group Inc., its owner and developer, posted a net profit of P2.98 billion in the first nine months of 2016.

The company’s net profit soared by 154 percent year on year for the third quarter of 2016 to P1.2 billion, with gaming revenues reaching P6.21 billion.

Meanwhile, Travellers’ non-gaming businesses including hotel, food and beverage, raked in P859.2 million in the third quarter.

Travellers is a joint venture between bilyonaryo Andrew Tan’s Alliance Global Inc. and Malaysia’s Genting Group.

Given Resorts World Manila’s profitability, it’s curious why the company didn’t offer a bigger compensation to the families of the 37 victims who perished in the attack– considering the major security blunders committed by its staff.

Closed circuit television footage of the gunman, identified as former Department of Finance employee Jessie Carlos, showed him managing to enter the casino with a rifle without any security personnel stopping him in his tracks.

Carlos then proceeded to burn several casino tables, before proceeding to a room to steal a bag of casino chips.

He managed to exchange fire with a security guard before going up to Room 501 on the fifth floor to shoot and set himself on fire.

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