Property, gaming lift AGI earnings to P16B

MANILA, Philippines — Alliance Global Group Inc. (AGI) recorded a 3-percent growth in net income during the first half of 2026, supported by stronger recurring property income and improvements in its gaming and spirits businesses.

AGI said on Friday it booked a profit of P16 billion from January to June, up from P15.6 billion a year earlier. This is net of one-time gains from last year’s deconsolidation of Golden Arches Development Corp. (GADC), the operator of McDonald’s Philippines.

READ: Alliance Global booked record P30.6B profit in 2025

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Excluding that, consolidated revenues increased by 3 percent to nearly P90 billion.

Growth came from property leasing, non-VIP and non-gaming revenues from its gaming business, and spirits.

“In a demanding global environment, the strength of this group is its mix,” AGI president and CEO Kevin Tan said.

He said recurring property income continued to grow while the gaming business improved earnings despite the industry’s shift away from VIP play.

The firm’s spirits business also benefited from a stronger portfolio.

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Travellers International, which owns and operates Newport World Resorts, posted the group’s biggest earnings improvement during the period.

Megaworld Corp., meanwhile, grew its net income by 5 percent to P12.7 billion as it posted P44.2 billion in consolidated revenues.

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Hotel revenues climbed 11 percent to P3.1 billion while mall revenues rose 8 percent to P3.6 billion.

Office revenues increased 5 percent to P7.8 billion.

Residential pre-sales also surged 15 percent to P63 billion, driven by demand for provincial township developments.

READ: Alliance Global chalked up record profit in 2025

Emperador Inc. recorded P3.7 billion in net income as consolidated revenues grew 5 percent to P29.6 billion.

Brandy revenues rose 4 percent to P19.2 billion while whisky revenues increased 7 percent to P10.4 billion.

Brandy and whisky gross profit climbed 20 percent and 12 percent, respectively.

AGI expects additional capacity from Westside Resorts Manila and Narra Palm Resorts and Villas to come on stream later this year, supporting Travellers’ growth momentum.

“We enter the second half with real momentum in our highest-quality businesses and a balance sheet built to support our growth plans,” Tan said. INQ