Pagcor junket agreement to tap foreign VIP market

Under a three year agreement with gaming regulator, Philippine Amusement and Gaming Corp, the Midas Hotel along Roxas Boulevard in Manila Bay is to start conducting junket operations in a sub-agency agreement with Gurutech Asia Inc. 

Prime Investment Korea Inc., a subsidiary of Leisure & Resorts World Corp., which owns the Midas Hotel, signed a supplement junket agreement with Pagcor to offer enhanced services and tap into foreign gaming markets to attract more tourists to the Philippines.  In a disclosure to the Philippine Stock Exchange, Leisure & Resorts World said, "The supplementary services shall include operating gaming tables equipped with high definition video cameras, VoIP facilities, internet data facilities, among others, which shall allow PIKI to broadcast PAGCOR-approved table gaming activities from within the gaming rooms to PAGCOR-approved locations outside the Casino Filipino-Midas".  Meanwhile, Leisure & Resorts World said that its board had approved an offering of P250 million (US$ 5.7 million) worth of shares, proceeds from which will be used to expand the company's gaming faciities in the country.  The board also approved a cash dividend of P0.04 per share to shareholders, payable on October 23 and another of equal value payable on March 26.

 

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