Frontier Capital Group Ltd – the owner of a casino hotel in Clark, on Luzon island in the Philippines – has been removed from the official list by the Australian Securities Exchange (ASX) with effect from the start of trading on May 1, according to an announcement issued by the bourse.
“ASX’s policy is that it is appropriate to automatically remove from the official list any entity whose securities have been suspended from trading for an unacceptably long period,” stated the ASX filing on Friday.
The trading in shares of Frontier Capital had been suspended since November 2016, according to company data.
Frontier Capital is the owner of the Stotsenberg Hotel and FortuneGate Clark Casino – the latter formerly known as the Casablanca Casino – located at the Clark Freeport Zone.
The firm’s gaming venue in Clark has been temporarily suspended amid the country-wide ban on bricks and mortar casino gaming since mid-March, as part of efforts to contain the further spread of the Covid-19 pandemic in that country. On April 24 it had been announced that parts of the country with higher incidence of Covid-19 infections would remain under an extended strict lockdown in relation to the public health alert, until May 15.
It was only February this year that Frontier Capital announced the property was making profits again after a long pause for its casino business for reasons unrelated to the coronavirus crisis. The gaming facility had an official opening ceremony on July 28, 2019 according to the company.
