outbrain
Close  

LRWC buys stake in Pampanga slot arcade operator

MANILA, Philippines—Gaming firm Leisure & Resorts World Corp. is expanding its Luzon operations with the acquisition of a slot arcade at King’s Royale Hotel and Leisure Park in Pampanga.

In a disclosure to the Philippine Stock Exchange, LRWC said its board had approved the purchase of a 70-percent stake in Blue Chip Gaming and Leisure Corp.

ADVERTISEMENT

Blue Chip Gaming operates a slot arcade at the King’s Royale along Olongapo-Gapan Road in Macabacle, Bacolor, Pampanga, under a license issued by the Philippine Amusement and Gaming Corp.

The LRWC board also approved a resolution authorizing an increase in the capital of wholly owned subsidiary AB Leisure Global Inc. to P400 million divided into four million shares. LWRC will subscribe to an additional 987,500 shares of AB Leisure worth P98.75 million.

FEATURED STORIES

AB Leisure Global is Belle Corp.’s partner in the operation and management of a $750-million casino complex that will be put up at the Manila Bay reclamation area by next year.

Subscribe to Inquirer Business Newsletter
Read Next
EDITORS' PICK
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: acquisition, Blue Chip Gaming, Gaming, LRWC
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.