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Philippine Strategy 2016 Outlook: Less Flash, More Substance
January 19, 2016
PCOMP 2015 negative performance, should markedly improve for 2016 Reasons to be optimistic: govt spending will improve, corporate earnings slowdown in 2015 temporary – 2016 growth will resure, core earnings improving. Index target 7,600 (upside 16%) implies 15% corporate earnings growth and a 2017 Market PE of 15x (historical average). Not expensive. Top picks are in property: SMPH ... Read More »
Gaming Sector Outlook: Recovery in 2016 but with numerous threats
January 15, 2016
Industry GGR expected to grow 17.5% 2016 (vs 21.5% 2015) from foreign and local demand. Foreign arrivals est to grow 15%. Domestic consumer spending up 6.1% 9M2015 and will continue to grow. No new casino openings so demand growth of 17.6% will improve industry earnings. Industry consolidated net loss of P3B in 2015 should show net ... Read More »
Press Statement: Php1.65B Perpetual Preferred Share Offering
July 5, 2013
PRESS STATEMENT Leisure & Resorts World Corporation (LRWC) has raised P1.65 billion through a share sale of preferred shares to ten (10) private investors, foremost of which are GSIS who invested P800 million and Philippine Commercial Capital, Inc. who invested P200 million. The preferred shares have a coupon rate of 8.5% per annum and ... Read More »
Press Statement: AB Leisure Global, Inc. and BDO Unibank, Inc. seals Php3B-Omnibus Loan Security Agreement
May 30, 2013
PRESS STATEMENT Leisure & Resorts World Corporation or “LRWC” (PSE stock code: LR) would like to announce that its wholly-owned subsidiary, AB Leisure Global, Inc. (or “AB Global”) executed an Omnibus Loan and Security Agreement (OLSA) in the amount of Three Billion Pesos (P3,000,000,00.00) with BDO Unibank, Inc. as the Lender. ... Read More »
LRWC eyeing P1 billion for more bingo sites, building project (themanilatimes.net/January 25, 2013)
February 6, 2013
Listed gaming firm Leisure and Resorts World Corp. (LRWC) is looking to spend P500 million for 30 to 40 additional bingo sites, and another P500 million for a joint office building project in Makati City called Techzone. LWRC Investor Relations Officer Freddie Reyes said in a telephone interview that as part ... Read More »
Leisure and Resorts World Corporation (LR) Set to Issue 8.5% Coupon Preferred Shares (investorjuan.com/January 25, 2013)
February 6, 2013
Leisure and Resorts World Corporation, a listed games operator in the Philippines, announced its plan to raise 1.75 billion pesos through a preferred share issuance. Proceeds of the issue will be used to finance the following projects: 1. Belle Grande Integrated Resort and Casino 2. Midas Hotel and Casino 3. Techzone project 4. Acquisition ... Read More »
P500M earmarked for electronic bingo (Businessworld Online/January 24, 2013)
February 6, 2013
Leisure & Resorts World Corp. (LRWC) aims to spend roughly P500 million this year to grow its Bingo Boutique electronic bingo gaming network to as many as 63 sites to meet growing demand, the gaming company said in a disclosure yesterday. Casino project gets more funding “The company is focused on rolling out ... Read More »
LRWC Raising P1.75 Billion From Private Placement Of Preferred Shares (mb.com.ph/January 24, 2013)
February 6, 2013
Leisure & Resorts World Corporation is planning to raise P1.75 billion through the private placement of perpetual preferred shares to fund its gaming projects including the Belle Grande Integrated Resort and Casino. In a disclosure to the Philippine Stock Exchange, LRWC said proceeds of the preferred shares offer will be used ... Read More »
Press Statement: Leisure and Resorts World Corporation | LRWC (pnoytrader.com/January 24, 2013)
February 6, 2013
PRESS STATEMENT Leisure & Resorts World Corporation (LRWC) would like to announce that its Board of Directors had approved a number of items in the Special Board meeting last January 22, 2013 that shall be included in the agenda during the Special Stockholders Meeting scheduled for 22 March 2013: 1. An increase ... Read More »
LR hikes capital to P5B (businessinquirer.net/January 23, 2013)
February 6, 2013
Publicly listed Leisure & Resorts World Corp. (LR) is beefing up its capital for the expansion of its businesses in the country. In a disclosure, the company said its board had approved the expansion of its authorized capital to P5 billion from P1.6 billion, divided into 2.5 billion common shares at ... Read More »