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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.
 

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Gambling News :

Leap Gaming Partners With Pala Interactive - Israeli-based developer Leap Gaming has clinched its second deal in a week, this with Pala Interactive for the integration of its virtual sports turnkey product to Pala’s white-label social gaming platform.

Sportech Racing Partners With Macau Jockey Club - Sportech Racing and Digital has partnered Macau Jockey Club (MJC) for the provision of a white-label digital pari-mutuel betting platform and other retail solutions.

Bla Bla Bla Studios - Under the terms of the deal Bla Bla Bla Studios will develop and distribute exclusive gaming content for integration into the Quickfire platform.

Betser Powered By SBTech - #Betser is inspired by fantasy football, private betting leagues and social betting. The offer includes a twin-track loyalty scheme devised by Malta-based Hero Gaming, who operate Casino Heroes.

EveryMatrix has appointed Glen Bullen as Sales Manager - Bullen assumes responsibility for the entire casino sales operation, particularly focusing on growing distribution of the newly-updated and expanded CasinoEngine platform into Tier One operators.

Freemasons Fortune Slot Launches - Booming Games has launched Freemasons Fortune, a new 3-reel, nine-payline game inspired by the enigmatic Freemasons fraternal order.

Hollywood Classic Slots launches - Penn Interactive has launched Hollywood Classic Slots, a social casino game developed in collaboration with its recently acquired social gaming company Rocket Games.

Pagcor relents on 20 venues - In an announcement to the local stock exchange Monday, the company revealed that 20 of its 36 e-bingo revocations have been lifted, enabling operations to continue.

Kama Games Selects Unity - #Unity The Ireland-based Kama Games mobile social games developer has announced its commitment to using the Unity games creation platform, having completed the conversion of the last of its titles from iOS and Android native apps to Unity 5.

Novomatic Slot Competition - #Novomatic The Americas division of online and land gambling games and equipment supplier Novomatic is briefing delegates to the G2E show in Las Vegas on its new slot concept, which gives players an opportunity to win prizes on national television.

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