Fifty-three electronic gaming and electronic bingo shops owned by Leisure and Resorts World Corporation in the Philippines are to be closed down by PAGCOR, the Philippine Amusement and Gaming Corporation).
PAGCOR, a government entity which controls gaming in the country, issued notices to two LRWC subsidiaries, AB Leisure Exponent and Total Gamezone, to close their operations in these locations because they did not comply with the distance between locations requirements. Under Filipino law gaming sites must be at least 200m away from churches and schools.
As a result, LRWC’s revenues and net income to the end of 2016 suffered by US$10.1m and $1.19m respectively. The locations comprise approximately one-third of LRWC’s sites in the country.
