{"id":21698,"date":"2021-08-18T13:48:50","date_gmt":"2021-08-18T16:48:50","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=21698"},"modified":"2026-04-23T16:31:33","modified_gmt":"2026-04-23T19:31:33","slug":"lrwc-profits-down-54-in-q2","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/lrwc-profits-down-54-in-q2","title":{"rendered":"LRWC profits down 54% in Q2"},"content":{"rendered":"\n

LRWC has shared its financial results for the second quarter of the year, reporting gross profits of PHP171.74m, down 54 per cent when compared to the first quarter.<\/p>\n\n\n\n\n\n\n\n

The Philippines.-\u00a0Leisure & Resorts World Corp (LRWC)\u00a0<\/strong>has revealed financial results for the second quarter of the year reporting a\u00a054 per cent quarterly decrease in gross profits<\/strong>\u00a0from PHP380.36m to PHP171.74m.<\/p>\n\n\n\n

However, the figure was up 85 per cent year-on-year<\/strong> due to\u00a0\u201cgrowth in gross gaming revenue\u00a0<\/strong>especially for the casino and retail segment.”<\/p>\n\n\n\n

For\u00a0Blue Chip Gaming and Gold Coast Leisure properties<\/strong>, LRWC reported casino gross profit of PHP122.8m, down 28 per cent when compared to the previous quarter.\u00a0Casino turnover<\/strong> was PHP2.2bn, down from PHP3.3bn.<\/p>\n\n\n\n

Due to community lockdown measures, the company didn’t register junket income<\/strong>\u00a0for the second quarter. The\u00a0online segment for LRWC<\/strong>\u00a0generated PHP140.16m, down 20 per cent from the first quarter.<\/p>\n\n\n\n

The Philippines extends ban on arrivals from 10 countries<\/h2>\n\n\n\n

The Philippines government has\u00a0extended its ban on arrivals from 10 countries<\/strong>\u00a0until the end of August due to the Covid-19 Delta variant.\u00a0The 10 countries affected are Malaysia, India, Sri Lanka, Bangladesh, Nepal, Thailand, Oman, Pakistan, Indonesia and the United Arab Emirates.<\/p>\n\n\n\n

Some casinos<\/a>\u00a0decided to\u00a0close from August 6 to August 20<\/strong>\u00a0following the\u00a0guidelines from the Philippine government\u00a0<\/strong>and\u00a0PAGCOR<\/a>.<\/p>\n\n\n\n

Only 10 per cent of the population has been fully vaccinated<\/strong>\u00a0and hospitals in Manila are nearing full capacity. Current restrictions in Manila<\/a>\u00a0are expected to be extended.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

LRWC has shared its financial results for the second quarter of the year, reporting gross profits of PHP171.74m, down 54 per cent when compared to the first quarter.<\/p>\n","protected":false},"author":176,"featured_media":20202,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Leisure & Resorts World Corp (LRWC) reported a 54% QoQ decrease in gross profits to PHP171.74m for Q2, despite an 85% YoY increase driven by GGR growth in casino and retail segments. This quarterly decline, alongside a 28% drop in casino gross profit and 20% in online segment revenue, is attributed to extended community lockdown measures and government-mandated casino closures in the Philippines, exacerbated by low vaccination rates and travel bans.","focusai_entities":"Leisure & Resorts World Corp (LRWC), Blue Chip Gaming, Gold Coast Leisure, PAGCOR","focusai_location":"The Philippines, Manila, Malaysia, India, Sri Lanka, Bangladesh, Nepal, Thailand, Oman, Pakistan, Indonesia, United Arab Emirates","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.85), operator_casino (0.95), investor_analyst (0.95), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Q3 Outlook for LRWC?","query":"Given the extended restrictions and low vaccination rates in the Philippines, what is LRWC's projected operational capacity and GGR outlook for Q3, particularly concerning its casino and online segments?"},{"label":"Regulatory Impact Analysis?","query":"How are the ongoing government and PAGCOR-mandated closures and international travel bans specifically impacting the B2B and B2C licensing frameworks and overall governance for gaming operators in the Philippines?"}],"footnotes":""},"categories":[163,16333],"tags":[23907,3857],"class_list":["post-21698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-land-based-casino","tag-lrwc"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=21698"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21698\/revisions"}],"predecessor-version":[{"id":21730,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21698\/revisions\/21730"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20202"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=21698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=21698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=21698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}