• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Leisure and Resorts 2Q gross profit up 85pct on better GGR

Aug 17, 2021 Newsdesk Latest News, Philippines, Top of the deck  


Leisure and Resorts 2Q gross profit up 85pct on better GGR

Second-quarter gross profit at Philippine gaming investor Leisure and Resorts World Corp increased 85.4 percent year-on-year, to PHP171.7 million (US$3.4 million) from PHP92.6 million.

The firm said in a Monday filing to the Philippine Stock Exchange that the improvement was “mainly due to the growth in gross gaming revenue [GGR] especially for the casino” segment, as well as for a retail segment it operates.

Nonetheless it added that operations in the latest reporting period were “directly affected by the continuous community quarantine measures implemented by the Philippine government in relation to Covid-19”.

Two wholly-owned units with casino operations – Blue Chip Gaming and Leisure Corp, an operator of electronic gaming machine halls; and Gold Coast Leisure World Corp, operator of a number of VIP gaming clubs in Philippine casinos – registered higher turnover figures in the second quarter of 2021 at PHP2.2 billion, compared to PHP100 million in the second quarter of 2020.

The group’s online gaming licensing arm – its approximately 69.7-percent-owned First Cagayan Leisure and Resort Corp, generated PHP69.2 million gross revenues during the second quarter of 2021, a decrease of PHP60.4 million or 46.6 percent from last year’s second quarter of PHP147.5 million.

Referring to the special economic zone where some online gaming operators have registered their business with First Cagayan, the parent group said: “The decline can be attributed to non-renewal of Cagayan Economic Zone Authority licensees and lower revenues reported by existing licensees.”

Leisure and Resorts World’s wholly-owned unit Prime Investment Korea Inc has an agreement with the Philippine gaming regulator, the Philippine Amusement and Gaming Corp (Pagcor), to run junket business at Pagcor’s Casino Filipino Midas, in Manila. But that junket business has been “non-operational” since March 2020, following Covid-19-related countermeasures imposed by the local authorities, noted the parent.


  • tweet
Related articles
  • Alvin Chau, Suncity trial set for September 2: court
    Alvin Chau, Suncity trial set for...

    Jun 20, 2022  

  • Macau Legend shares still paused in HK on 2021 report delay
    Macau Legend shares still paused in HK...

    May 31, 2022  

More news
  • Sega Sammy to launch Genesis Crest 43J cabinet in Asia
    Sega Sammy to launch Genesis Crest 43J...

    Jul 01, 2022  

  • Macau monthly GGR for June worst since Sept 2020
    Macau monthly GGR for June worst since...

    Jul 01, 2022  


Latest News

Sega Sammy to launch Genesis Crest 43J cabinet in Asia

Sega Sammy to launch Genesis Crest 43J cabinet in Asia

Jul 01, 2022  

Casino equipment supplier Sega Sammy Creation Inc said in a Friday release it was debuting its Genesis Crest 43J cabinet in Asia. The product will be available at an in-person trade show, G2E Asia:...
Read More
Macau monthly GGR for June worst since Sept 2020

Macau monthly GGR for June worst since Sept 2020

Jul 01, 2022  

Kangwon 2021 average bet 61pct above foreigner casinos

Kangwon 2021 average bet 61pct above foreigner casinos

Jul 01, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


638

Aggregate number of Covid-19 cases in the latest Macau outbreak, as of Thursday-end



Most Popular

  • Macau tells casinos cut on-duty staff by 90pct: reportsMacau tells casinos cut on-duty staff by 90pct: reports July 1, 2022
  • 5-casino Thai market ok says National Assembly committee5-casino Thai market ok says National Assembly committee June 30, 2022
  • GKL says no biz lift soon from S.Korea-Japan travel easingGKL says no biz lift soon from S.Korea-Japan travel easing July 1, 2022
  • Macau monthly GGR for June worst since Sept 2020Macau monthly GGR for June worst since Sept 2020 July 1, 2022
  • Universal hopes Okada Manila biz listed before Sept 30Universal hopes Okada Manila biz listed before Sept 30 June 30, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us