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Leisure and Resorts Impacted By Philippines Gambling Bans

SPECULATION IMPACTS LEISURE AND RESORTS SHARE PRICE
 
Philippines online gambling events could be dangerous for company.
 
The dismantling of Philweb following Philippines President Rodrigo Dutertes initiative against  online gambling has triggered speculation that another company involved in the sector, Leisure and Resorts, could be endangered by the purge, according to a report in the business news publication Bloomberg.
 
There are indications that this possibility is of concern to the investment community; the announcement this week by Pagcor chief Andrea Domingo that it will no longer renew e-gaming licenses caused Leisure and Resorts World Corp. shares to tank 20 percent Friday in the worse day the stock has seen in eight years.
 
The largest operator of electronic number games in the Philippines (it has a local bingo market share estimated at over 35 percent), LRWC is thought to be a likely target following the demise of Philweb.
 
 Observers point out that any negative action against the company could have wider implications...LRWC has a 69.68 percent stake in First Cagayan Leisure and Resorts Corp., which falls under the Cagayan Economic Zone Authority and issues licenses to a number of Asian-focused online gambling sites.
 
The many warnings that continued assaults on the sector could cause significant job losses and reductions in money flowing to government coffers appear to have fallen on deaf ears thus far, with little if any official response.
 



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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