Gaming firm to increase number of equipment

MANILA, Philippines - Seeing continuous upside in its core business, Leisure & Resorts World Corp. (LRWC) is increasing the number of its bingo machines to 4,000 by yearend from a little over 3,000.

A.B. Leisure Exponent Inc. (ABLE), a wholly-owned subsidiary of LRWC, is the market leader in commercial bingo operations.

In a briefing following the company’s annual stockholders meeting Friday, LRWC chairman and president Reynaldo Bantug said the company is expanding its bingo operations in 30 new sites this year, noting that bingo remains the main driver of growth.

“We’re eyeing a wider network in the provinces. We want to tap into the younger generation by offering electronic bingo especially in growth centers,” Bantug said.

Bantug said that while demand for electronic games was strong, the contribution of traditional bingo was still significant at P2 billion last year or 55.3 percent of total revenues.

Revenues from electronic games grew 20.8 percent in 2011 to P1.6 billion.

ABLE introduced the video link bingo, which allows players in one parlor to play simultaneously with players in other parlors for bigger payouts. The majority of Metro Manila bingo parlors have been linked for the metro-wide bingo game.

Bantug said the company expects subsidiary First Cagayan Leisure & Resort Corp. to continue to its growth trajectory this year on the back of higher application and listing fees and rental income. The company is the only master licensor for e-gaming jurisdiction in the region, providing state-of-the-art facilities at the Cagayan Special Economic Zone & Freeport (CSEZFP).

As of Dec. 31, 2011, First Cagayan had 60 licensed locators, 52 of which are operational.

First Cagayan Converge Data Center, a unit of FCLRC, has seen recovery in its operations, posting a 25-percent growth. It provides telecommunications, connectivity, co-location and technical services to all gaming licensees at the CSEZFP.