#Leisure and Resorts World

Inquirer

LRWC bets on online bingo to reverse pandemic losses

Listed gaming firm Leisure and Resorts World Corp. (LRWC) hopes to recover from recent losses to reach prepandemic revenues by 2023 or late this year, aided by the explosive growth of its newly established online bingo business. The online betting platform, called Bingo Plus, allows users to place wagers as low as P5 to win jackpot prizes worth…

Covid ・ 26 October 2022

Business Mirror

LRWC widens net loss in Jan-March

Gaming firm Leisure and Resorts World Corp. (LRWC) said its net loss in the first quarter doubled to P223.07 million from P110.03 million a year ago. The company attributed this to the significant decrease in revenue from its online segment and the increase in direct cost for the minimum guarantee fee paid to regulator Philippine Amusement and…

Travel ・ 02 June 2022

Rappler

LRWC launches online bingo game

Leisure and Resorts World Corporation sees online bingo becoming a main revenue stream in the future, as the pandemic limits people from going to traditional gaming establishments MANILA, Philippines - Leisure and Resorts World Corporation (LRWC) launched the country's first online bingo game, as the pandemic limits leisure activities and the…

Bingo ・ 04 February 2022

Asgam

Online gaming to push PAGCOR revenues to US$761 million in 2021: Andrea Domingo

Philippines gaming regulator PAGCOR is expecting to record income from gaming operations of around Php38 billion (US$761 million) in 2021, representing a 27% increase over 2020 thanks largely to contributions from its growing online gaming sectors. The estimate was put forward by PAGCOR chair Andrea Domingo during a television interview…

Finance ・ 07 September 2021

Wild Casino

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Casino News Daily

Philippine President Lifts Boracay Casino Ban

In a policy U-turn, Philippine President Rodrigo Duterte has lifted a ban on casino operations on the resort island of Boracay, saying he needs money to "pay a lot of expenses and keep the government running." In a televised address, the Philippine's top official apologized for his change of heart on gambling on Boracay, but went on to note that he…

Covid ・ 30 August 2021

Gambling News

New Casino for the Philippines Confirmed After Moratorium Lifted

The COVID-19 has caused economic hardships on every level and it doesn't look like things are ready to get back to normal yet. The Delta variant is continuing to cause issues, but the pandemic has also helped open the doors to new gambling opportunities that perhaps would have never been explored before. The Philippines, previously viewing casinos…

Covid ・ 30 August 2021

Gambling News

Duterte Changes Stance on Gambling Due to COVID-19 Impact on The Philippines

Once a fierce opponent of gambling activities, Philippine president Rodrigo Duterte has changed his position to urge wagering in order to attract funds after the devastating impact of the pandemic. Philippine President Rodrigo Duterte has softened his tone with regards to gambling in the country due to the negative impact of the COVID-19 pandemic.…

Covid ・ 09 July 2021

World Casino News

Duterte charge of heart helps Manila casino stocks

In the Philippines and the individual share prices for some of the nation's largest casino operators have reportedly risen sharply following a dramatic change of heart from President Rodrigo Duterte (pictured). According to a report from the Bloomberg news service, the 76-year-old leader has been an outspoken critic of gambling for many years and…

Finance ・ 09 July 2021

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Asgam

COVID-19 sees Philippines President Duterte change tune on online gambling

Once an ardent critic of all gambling activities, having quashed new casino developments in Boracay and Manila, Philippines President Rodrigo Duterte now considers gambling a necessary source of funds to fight the COVID-19 pandemic. Duterte outlined his views during a meeting with political party officials on Wednesday, with state-owned Philippine…

Covid ・ 07 July 2021