• 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 quarterly profit grows over 3-fold

Aug 15, 2014 Newsdesk Latest News, Philippines, Top of the deck  


Leisure and Resorts quarterly profit grows over 3-fold

Philippines-based Leisure and Resorts World Corp said consolidated net profit for the second quarter of 2014 increased by 320 percent year-on-year to PHP201.6 million (US$4.6 million). The company said the growth was mainly due to “significant increases” in net income of its subsidiaries.

Gross revenue for the three months to June 30 went up to PHP1.6 billion from PHP1.3 billion a year before, the company stated in a regulatory filing on Friday.

The firm is an investor in Manila’s under-construction City of Dreams Manila via its unit AB Leisure Global Inc. It also operates professional bingo gaming and is involved in interactive games licensing.

Subsidiary AB Leisure, an operator of bingo gaming in the Philippines, posted profits of PHP41.0 million in the second quarter of 2014, an increase of 56.8 percent in year-on-year terms. AB Leisure and its subsidiaries generated total revenues of PHP1.1 billion in the period.

Leisure and Resorts World is also the parent of First Cagayan Leisure and Resort Corp, the exclusive master licensor for the Cagayan Economic Zone Authority, the online gaming jurisdiction in the Philippines operating in the Cagayan Special Economic Zone.

First Cagayan generated PHP323.7 million in gross revenues in the three months to June 30, up 62.1 percent from last year’s second quarter. “The improvement in revenues is mainly due to the increase in the number of operational locators – 76 for this year as against 68 last year as well as the increase in locators’ revenues,” the company said. The subsidiary’s net income increased by 77.5 percent year-on-year to PHP137 million.

“The companies continued focus on expanding our bingo sites as well as the continued roll-out of the electronic variants of our bingo games, which have contributed to the net income increase in our AB Leisure subsidiary,” the company’s chief executive, Reynaldo P. Bantug, said in a statement.

“Our First Cagayan subsidiary produced better than expected results, with management focusing on attracting more locators as well as servicing the needs of current licensees,” he added.


  • tweet
Related articles
  • Pagcor CEO confident gaming sector will fully recover soon
    Pagcor CEO confident gaming sector will...

    Feb 03, 2023  

  • Tak Chun execs knew illicit to settle proxy in Macau: trial
    Tak Chun execs knew illicit to settle...

    Jan 31, 2023  

More news
  • Return of tours good for mass floor traffic: observers
    Return of tours good for mass floor...

    Feb 03, 2023  

  • S.Korea casino op GKL’s January sales up 230pct y-o-y
    S.Korea casino op GKL’s January...

    Feb 03, 2023  


Latest News

Return of tours good for mass floor traffic: observers

Return of tours good for mass floor traffic: observers

Feb 03, 2023  

The imminent return of package tours from mainland China will not only help boost Macau’s tourism businesses, but is also expected to help casinos gain more foot traffic in their mass gaming...
Read More
S.Korea casino op GKL’s January sales up 230pct y-o-y

S.Korea casino op GKL’s January sales up 230pct y-o-y

Feb 03, 2023  

Aristocrat completes acquisition of Roxor Gaming

Aristocrat completes acquisition of Roxor Gaming

Feb 03, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”We are confident that the Philippine gaming sector will be able to fully recover, or even surpass its pre-pandemic earnings soon”

Alejandro Tengco

Chairman and chief executive of Pagcor



Most Popular

  • Jaw-dropping wagers in Macau CNY survey: CitigroupJaw-dropping wagers in Macau CNY survey: Citigroup February 2, 2023
  • Return of tours good for mass floor traffic: observersReturn of tours good for mass floor traffic: observers February 3, 2023
  • Galaxy Macau’s new arena to host K-pop group BlackpinkGalaxy Macau’s new arena to host K-pop group Blackpink January 9, 2023
  • Aruze Gaming America opts financial rejig after legal matterAruze Gaming America opts financial rejig after legal matter February 2, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us