Leisure agrees to tie-up for bingo games via Net

Publicly listed Leisure & Resorts World Corp. (LRWC), (formerly Atlas Fertilizer Corp.) said its wholly owned subsidiary AB Leisure Exponents Inc. has agreed in principle with Sports and Games Entertainment Corp. (SAGE) "to jointly undertake the commercial operation of bingo games and bingo-related games through the Internet."

AB Leisure owns and operates the Bingo Bonanza, the largest nationwide chain of the traditional bingo game played in malls. Last December, LRWC absorbed the entire capital stock of AB Leisure through a share swap deal that involved 750 million shares of AB Leisure in exchange for new shares of LRWC.

SAGE, on the other hand, is a domestic corporation which holds a franchise from the Philippine Amusement and Gaming Corp. to operate and maintain Internet gaming facilities.

With the acquisition and expansion of 17 additional bingo sites, LRWC now owns and operates a total of 23 bingo sites all over the country.

These include Galleria Bingo Corp. operating at Robinson's Galleria; Rizal Gaming Corp. (Antipolo, Rizal); Fiesta Gaming and Entertainment Corp. (San Pedro, Laguna); Alabang Numbers and Gaming Corp. (Festival Mall); Iloilo Bingo Corp. (SM Iloilo); G-One Gaming and Technology Inc. (SM Bacoor); Bingo Dinero Corp. (SM Cebu); First Leisure & Game Co. Inc. (Robinson's Bacolod); Isarog Gaming Corp. (ALDP Mall, Naga); Bingo Palace Corp. (Robinson's Place, Manila); Manila Bingo Corp. (SM Fairview); Cebu Entertainment Gallery Inc. (Metro Gaisano); Summit Bingo Inc. (Savers Mall Angeles); Allpoint Leisure Corp. (SM Centerpoint and SM Harrison Plaza); and South Bingo Corp. (Gaisano Mall, Davao).