{"id":22483,"date":"2021-09-09T12:42:06","date_gmt":"2021-09-09T15:42:06","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=22483"},"modified":"2026-04-23T15:50:02","modified_gmt":"2026-04-23T18:50:02","slug":"pagcor-approves-lrwc-electronic-games-system-service","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/pagcor-approves-lrwc-electronic-games-system-service","title":{"rendered":"PAGCOR approves LRWC electronic games system service"},"content":{"rendered":"\n

Leisure & Resorts World Corp (LRWC)\u00a0has been granted permission to operate as an electronic games system service provider with its Total Gamezone Xtreme brand.<\/p>\n\n\n\n\n\n\n\n

The Philippines.-\u00a0The Philippine Amusement and Gaming Corp (PAGCOR)\u00a0<\/strong>has announced the approval of LRWC’s request to begin operations as an electronic games system service provider. <\/p>\n\n\n\n

The company’s Total Gamezone Xtreme unit<\/strong> has launched its own electronic gaming system and remote gaming platform. The platform is accessible to all registered players of TGXI and offers a variety of games.<\/p>\n\n\n\n

LRWC<\/a>\u00a0is looking to resume its partnership with\u00a0Galaxy Entertainment Group Ltd<\/strong>\u00a0about a possible casino development on Boracay. Alfredo Abelardo Benitez<\/strong>, LRWC director, plans to revive talks with the Macau casino operator.<\/p>\n\n\n\n

An original project was announced in December 2017, after LRWC bought the parcels of land in Boracay for US$500m.<\/strong> However, Duterte then closed the island destination to tourism <\/strong>due to concerns for the environment. He said that the increased number of visitors on the island was turning Boracay into a \u201ccesspool.\u201d<\/p>\n\n\n\n

LRWC dropped its plan<\/a>\u00a0for a casino on its 23-hectare property in Boracay leaving Galaxy Entertainment as a sole investor. However, a few weeks ago Duterte said his country needs income to recover from the Covid-19 pandemic.<\/p>\n\n\n\n

LRWC profits down 54% in Q2<\/h2>\n\n\n\n

The company 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. However, the\u00a0figure was up 85 per cent year-on-year<\/strong>\u00a0due to\u00a0\u201cgrowth in gross gaming revenue\u00a0<\/strong>especially for the casino and retail segment.\u201d<\/p>\n\n\n\n

For Blue 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. Casino turnover<\/strong> was PHP2.2bn, down from PHP3.3bn.<\/p>\n\n\n\n

Due to community lockdown measures, the company didn\u2019t register junket income<\/strong> for the second quarter. The online segment for LRWC<\/strong> generated PHP140.16m, down 20 per cent from the first quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"

Leisure & Resorts World Corp (LRWC)\u00a0has been granted permission to operate as an electronic games system service provider with its Total Gamezone Xtreme brand.<\/p>\n","protected":false},"author":176,"featured_media":21660,"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) has secured regulatory approval from PAGCOR to operate its Total Gamezone Xtreme as an electronic games system service provider, launching a new remote gaming platform. Concurrently, LRWC reported a 54% QoQ decrease in Q2 gross profits, despite an 85% YoY increase driven by GGR growth in casino and retail segments. The company also plans to revive discussions with Galaxy Entertainment Group for a potential Boracay casino development, previously stalled by environmental concerns.","focusai_entities":"Leisure & Resorts World Corp, Total Gamezone Xtreme, Philippine Amusement and Gaming Corp, Galaxy Entertainment Group Ltd, Alfredo Abelardo Benitez, Duterte","focusai_location":"Philippines, Boracay, Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.85), operator_casino (0.9), affiliate_publisher (0.7), product_ux (0.75), tech_data (0.7), marketing_crm (0.75), payments_fraud_aml (0.75), investor_analyst (0.95), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Online GGR Outlook?","query":"Given the 20% QoQ decline in LRWC's online segment revenue despite the new license, what are the projected GGR growth trajectories for Total Gamezone Xtreme's remote gaming platform in the next fiscal year, and what specific marketing and product strategies are planned to mitigate competitive pressures?"},{"label":"Boracay Casino Feasibility?","query":"What specific changes in the regulatory and environmental governance frameworks in the Philippines, particularly concerning Boracay, would be required to make the proposed casino development with Galaxy Entertainment Group a viable and de-risked investment, and what is the updated timeline for these discussions?"}],"footnotes":""},"categories":[157,158,16333],"tags":[3857,405],"class_list":["post-22483","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-slider-home","category-south-east-asia-news","tag-lrwc","tag-pagcor"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22483","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=22483"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22483\/revisions"}],"predecessor-version":[{"id":22493,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22483\/revisions\/22493"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21660"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}