{"id":27882,"date":"2022-03-08T07:20:28","date_gmt":"2022-03-08T10:20:28","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=27882"},"modified":"2026-04-23T10:43:03","modified_gmt":"2026-04-23T13:43:03","slug":"lrwc-expects-to-raise-us40-3m-from-share-issuance","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/lrwc-expects-to-raise-us40-3m-from-share-issuance","title":{"rendered":"LRWC expects to raise US$40.3m from share issuance"},"content":{"rendered":"\n<p>LRWC&#8217;s board of directors has approved and authorised the issuance of 1.27 billion common shares from it unissued capital stock. The company has not disclosed how it plans to use the funds.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>The Philippines.-\u00a0\u00a0<strong>Leisure &amp; Resorts World Corp\u00a0<\/strong>(<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/lrwc-director-resigns-to-run-for-public-office\" target=\"_blank\">LRWC<\/a>) has announced that it will issue a total of 1.27 billion common shares at an issue price of Php1.65 per share. It hopes to raise PHP2.10bn (US$40.3m).<\/p>\n\n\n\n<p>In September 2021, PAGCOR approved\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/pagcor-approves-lrwc-electronic-games-system-servicehttps:\/\/focusgn.com\/asia-pacific\/pagcor-approves-lrwc-electronic-games-system-service\" target=\"_blank\">LRWC\u2019s AB Leisure division\u2019s request<\/a>\u00a0to begin operations as an electronic games system service provider. In January, the company launched the\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/lrwc-launches-first-philippine-online-bingo-offering\" target=\"_blank\">first online bingo offering<\/a>\u00a0in the Philippines.<\/p>\n\n\n\n<p>LRWC reported total revenue of PHP1.88bn for the nine months ended September 30, 2021, down 33.8 per cent year-on-year.\u00a0The company narrowed its net loss from PHP785.5m in the first nine months of 2020 to PHP465.2m.<\/p>\n\n\n\n<p>Last year, LRWC expressed interest in resuming its partnership with Galaxy Entertainment Group Ltd to develop a casino resort on Boracay after\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/galaxy-entertainment-could-resume-plans-for-boracay-casino\" target=\"_blank\">Philippine president Rodrigo Duterte changed his mind<\/a>\u00a0about a\u00a0<strong>ban on gambling\u00a0<\/strong>there. However, residents on Boracay have come out against the possibility of a casino on the island.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LRWC&#8217;s board of directors has approved and authorised the issuance of 1.27 billion common shares from it unissued capital stock. The company has not disclosed how it plans to use the funds.<\/p>\n","protected":false},"author":176,"featured_media":18423,"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 approved the issuance of 1.27 billion common shares at PHP1.65 per share, aiming to raise PHP2.10bn (US$40.3m) for undisclosed purposes. This capital raise follows PAGCOR's approval for LRWC's AB Leisure division as an electronic games system service provider and the launch of online bingo in the Philippines. The company also reported a narrowed net loss despite a 33.8% revenue decline for the nine months ended September 30, 2021, and continues to explore a Boracay casino resort despite local opposition.","focusai_entities":"Leisure & Resorts World Corp, LRWC, PAGCOR, AB Leisure, Galaxy Entertainment Group Ltd, Rodrigo Duterte","focusai_location":"Philippines, Boracay","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), compliance_legal (0.8), operator_casino (0.8), supplier_vendor (0.7), investor_analyst (1.0), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Capital Raise Allocation Strategy?","query":"What is the strategic allocation of the PHP2.10bn capital raise, and how will it impact LRWC's GGR and NGR projections across its gaming verticals?"},{"label":"Boracay IR Development Plan?","query":"Given the local opposition and prior regulatory shifts, what is LRWC's revised timeline and governance framework for the Boracay integrated resort development, and what are the remaining regulatory compliance hurdles?"}],"footnotes":""},"categories":[157,16333],"tags":[3857],"class_list":["post-27882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-lrwc"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27882","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=27882"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27882\/revisions"}],"predecessor-version":[{"id":27893,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27882\/revisions\/27893"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18423"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=27882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=27882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=27882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}