Resorts World Manila said they plan to delist from the Philippine Stock Exchange in October 2019.
The move comes two years after a deadly arson attack inside its hotel and casino which killed over 30 people, hurting the integrated resort’s image and, for a while, its finances.
The company is also seeing a weak valuation despite a recovery in gaming revenue and core earnings since the June 2017 fire.
Resorts World Manila, which opened in 2009 near the Manila airport, is the pioneering integrated resort in the Philippines.
But in recent years it faced growing competition with the opening of other billion-dollar integrated resorts, such as Solaire, City of Dreams Manila and Okada Manila.
The company reported that its income fell by 50% to 844 million pesos ($16.1 million) in the first half on higher finance charges and appreciation expenses.
Travellers is the second casino company in Manila to delist this year. Melco Resorts and Entertainment Philippines, which runs City of Dreams Manila of Macau casino tycoon Stanley Ho, delisted in June. Melco Crown said its listed status did not help it in raising capital.
Despite the stock market exit, the company is pushing ahead with plans to expand gaming, entertainment and retail spaces, and open Hotel Okura Manila next year.
The company is also building another billion-dollar integrated resort in the Manila Bay entertainment district, where other integrated resorts operate.
The Philippine tourism industry has been perked up by an influx of Chinese tourists and workers after President Rodrigo Duterte revitalized ties with China.