Leisure & Resorts World Corp, which operates bingo parlours and online gaming in the Philippines, reported a drop of 18.9 percent in gross profit in the first quarter, due to Covid-19 mandated lockdowns.
Gross profit fell by 18.9 percent to P173.1 million ($3.4 million) as gross gaming revenue dropped across all of its business segments.
Gross gaming revenue from junket operations recorded a decline of 54.8 percent to P11.3 billion, with the drop exacerbated by a lower win rate of 3.1 percent compared with 3.6 percent.
Blue Chip Gaming and Leisure, which operates slot arcades and its GCLWC unit saw GGR fall 8.5 percent to P40 million, while online operations from First Cagayan Leisure and Resorts Corp reported a drop of 29 percent to P79.8 million. The decline came from non-renewal of Cagayan Economic Zone Authority licensees and lower revenue from existing licensees.
Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.
ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264