The latest news on the gaming industry in Asia

Leisure and Resorts World declares cash dividend

Jun 05, 2018 Latest News, Philippines, Top of the deck  

Leisure and Resorts World declares cash dividend

Philippine-based Leisure and Resorts World Corp, which has several interests in the land-based and online gambling sectors, has declared a cash dividend of PHP0.0425 (US$0.00080) per preferred share.

The dividend will be paid to shareholders on the register – as at June 20 – on July 12 from unappropriated retained earnings held on May 31. The gaming conglomerate told the Philippine Stock Exchange its board had approved the dividend on Monday.

Leisure and Resorts World has among its businesses Cagayan Leisure and Resort Corporation – known as First Cagayan – an online gaming licensor in the Cagayan Freeport and Special Economic Zone in the northeast of Luzon, the main island of the Philippine archipelago; a subsidiary that controls the Midas Hotel and Casino in Manila; and another which operates slot-machine arcades all over the country.

Until last year, Leisure and Resorts World had a revenue-sharing deal with Belle Corp, an investor in the City of Dreams Manila casino resort. That venue is in turn operated by a unit of Asian casino developer Melco Resorts and Entertainment Ltd.

Macau casino operator Galaxy Entertainment Group Ltd announced in December that in partnership with Leisure and Resorts World, it would invest up to US$500 million in building a casino on the resort island of Boracay. An aide to Philippine President Rodrigo Duterte subsequently said the national leader was opposed to allowing a new casino on the holiday island.

Leisure and Resorts World made a net profit of PHP430.3 million last year on gross revenue of PHP14.94 billion. It reported the result at the same time as its first-quarter profit, which dipped 70 percent.

Related articles
More news

Latest News

Sega Sammy Creation growing land-based, eyes online

Sega Sammy Creation growing land-based, eyes online

Jun 01, 2023  

Casino equipment maker Sega Sammy Creation Inc is tweaking its market approach in the land-based segment, in terms of manufacturing and sales, says Naoki Kameda (pictured, left), the firm’s...
Read More
iGaming growing in Asia, ops tackling challenges: Uplatform

iGaming growing in Asia, ops tackling challenges: Uplatform

Jun 01, 2023  

Pick of the Day

”We’re interested [in entering Thailand], we’re looking… but it’s early days”

Robert Goldstein
Chairman and chief executive of casino operator Las Vegas Sands