CoD Manila investor opening more retail gaming shops

Aug 04, 2015 Newsdesk Latest News, Philippines, Top of the deck  

---

Leisure and Resorts World Corp, an investor – via a subsidiary – in the City of Dreams Manila casino resort in the Philippines, is independently to open this year between 10 and 15 retail gaming outlets for either bingo (pictured) or online games in that country.

The company operated – as of the end of last year – a network of around 90 bingo sites and about 50 “e-games stations” licensed by the Philippine Amusement and Gaming Corp (Pagcor), according to a media report on Monday.

The firm confirmed in a filing on Monday to the Philippine Stock Exchange that it would invest up to PHP400 million (US$8.7 million) for that purpose and also for the refurbishment of the Midas Hotel in Pasay, Manila. According to the hotel’s website, a gaming venue called Midas Casino operates inside the hotel complex.

Leisure and Resorts World said in a filing in April that the Midas property’s casino is run by Pagcor, which is the country’s gaming regulator and public sector operator. The same filing said Leisure and Resorts World holds a licence to conduct telephone betting for casino junket operations at that casino.

Leisure and Resorts World said on Tuesday, referring to a media report the same day about the opening of some retail gaming venues: “We clarify that the estimate of 10 to 15 [retail gaming] outlets is based on past year’s performance and is still subject to Pagcor approval. We likewise clarify that the estimate of PHP400 million includes the refurbishing of existing outlets.”

Local media outlet BusinessWorld had reported, quoting Leisure and Resorts World’s chairman and president, Reynaldo P. Bantug, that the 10 to 15 outlets were “neighbourhood bingo boutiques and Pagcor e-games stations”.

---

---