LRWC net profit tops P1 billion
April 21, 2016
By James A. Loyola/ The Manila Bulletin
Gaming firm Leisure & Resorts World Corporation (LRWC) reported a 37 percent jump in its 2015 consolidated net income to P1.030 billion from 2014’s net income of P750 million. In a disclosure to the Philippine Stock Exchange, the firm said its four main business divisions all reported better results. LRWC’s retail division reported a 30 percent growth in net income to P256 million from P198 million.
This includes AB Leisure Exponent (ABLE) which manages bingo halls and outlets, and Total Gamezone Xtreme (TGXI) which manages eCasino outlets. The biggest contributor was ABLEs bingo operations that was up 27 percent from 2014 of P193 million to P244 million. TGXI’s eCasino outlets contributed P12 million. TGXI is still in the expansion and buildout stage. ABLE’s electronic bingo games (EBG) machines continued to drive the growth in its earnings. (JAL)
Category: In The News