Reports THE PHILIPPINES MARKET
LRWC operates bingo parlours throughout the Philippines via subsidiary AB Leisure Exponent (ABLE) which are mostly found in city shopping malls. ABLE is the biggest contributor to the company’s group revenues with gross revenues of P7.8bn last year with almost 11,000 e-bingo machines in around 154 parlours under the Bingo Bonanza trade name, a 35 per cent market share approximately. Other bingo operators include Bingo Mania and Bingo Amusement.
hotel is near the city of Cebu and will be the first integrated casino resort on the island. It is due to be completed in two phases with the first phase to include the casino by early 2022
Te company is also in the design stage for an adventure themed integrated resort called Te Base due to open in 2022 in Clark Global City in Pampanga and a hotel in Panglao, Bohol called Donatela Hotel.
Other projects have been halted. On the island of Boracay a $550m casino project planned by Leisure & Resorts World Corp and Galaxy Entertainment has been abandoned after uncertainly from the government.
LRWC operates bingo parlours throughout the Philippines via subsidiary AB Leisure Exponent (ABLE) which are mostly found in the city shopping malls. ABLE is the biggest contributor to the company’s group revenues with gross
P72 NEWSWIRE / INTERACTIVE / MARKET DATA
revenues of P7.8bn last year with almost 11,000 e-bingo machines in around 154 parlours under the Bingo Bonanza trade name, a 35 per cent market share approximately.
Other bingo operators in the Philippines include Bingo Mania and Bingo Amusement Corporation plus a handful of smaller players. It also operates Total Gamezone Xtreme Inc (TGXI) which is the operator and licensee of PAGCOR e-games stations (PeGS), which are electronic game sites mostly located in Metro Mania and nearby areas. TGXI has around 36 branches with 934 terminals.
LRWC purchased a 23-hectare piece of land on east side of Boracay island, near Tambisaan Beach. Boracay is a top tourism destination and accounted for around one third of total inbound tourism to the Philippines in 2017 and is home to over 32,000 residents with around 2.1 million total tourists last year.
Te island underwent an enforced shutdown in April 2018 when Duterte ordered the island to undergo a $18.5m six-month long operation to clean up the waters and beach after inspectors found more than 300 establishments in breach of sewerage regulations.
At the time visitor numbers were capped on the island with a daily limit of 6,405 tourist arrivals and 15,000 workers whilst visitors must have a confirmed hotel booking prior to travelling to the island. Beach parties are banned alongside single use plastic.
But just as the island began to re-open and recoup its losses it is now struggling from a second closure wave due to Covid-19. With practically zero tourists, hotels and shops are closing and residents are struggling.
Te provisional licence for the casino issued in 2018 was later withdrawn and Justice Secretary
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