{"id":777000988,"date":"2022-12-13T12:57:32","date_gmt":"2022-12-13T15:57:32","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777000988"},"modified":"2026-04-23T02:06:21","modified_gmt":"2026-04-23T05:06:21","slug":"lrwc-hopes-to-raise-up-to-us32m-through-private-placement","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/lrwc-hopes-to-raise-up-to-us32m-through-private-placement","title":{"rendered":"LRWC hopes to raise up to US$32m through private placement"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The company aims to strengthen its technology platforms and develop better products and services.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">The Philippines.-&nbsp;<strong>Leisure &amp; Resorts World Corp&nbsp;<\/strong>(LRWC) has announced that it hopes to&nbsp;raise <strong>PHP1.85bn <\/strong>(US$33.2m) from a private placement of 691.2m common shares, which had been approved in November. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At a stockholders\u2019 meeting, the company said the purpose of the placement is &#8220;to further strengthen its technological platforms, to develop better products and services, and to support the expansion of the Company\u2019s businesses.&#8221; It also needs to<strong> <\/strong>have <strong>more ready capital<\/strong>&nbsp;to support the cost of operational and capital expenditures.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In March,&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/lrwc-expects-to-raise-us40-3m-from-share-issuance\" target=\"_blank\">LRWC issued 1.27bn common shares<\/a>&nbsp;at an issue price of Php1.65 per share.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Leisure &amp; Resorts World Corp reported revenue of PHP2.9bn in the third quarter, up 491 per cent year-on-year. It said the increase was \u201cmainly from bingo games, electronic games and the casino businesses.&#8221; <strong>Third-quarter EBITDA&nbsp;<\/strong>showed a growth of 602 per cent from last year\u2019s loss of PHP111m to a positive PHP560m.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company posted its net income of PHP172m for the three quarters that ended September 30, its first positive net income since the start of the Covid-19 pandemic. It achieved a net profit of PHP429m, compared to a net loss of PHP107m in the previous year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">LRWC President <strong>Andy Tsui<\/strong> said: &#8220;We will continue to strive for improvement and maximize returns for our stakeholders.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company aims to strengthen its technology platforms and develop better products and services.<\/p>\n","protected":false},"author":176,"featured_media":0,"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) is executing a PHP1.85bn (US$33.2m) private placement of 691.2m common shares, earmarked for strengthening technological platforms, enhancing product and service offerings, and supporting business expansion. This capital infusion follows a robust financial turnaround, marked by a 491% year-on-year revenue increase in Q3, primarily from its bingo, electronic games, and casino verticals, and the company's first positive net income since the onset of the Covid-19 pandemic.","focusai_entities":"Leisure & Resorts World Corp (LRWC), Andy Tsui","focusai_location":"Philippines","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.8), tech_data (0.85), investor_analyst (1.0), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Tech Investment Specifics","query":"What specific technological infrastructure upgrades or platform development initiatives are planned with the PHP1.85bn capital, and how will these enhance LRWC's competitive edge in its core gaming verticals?"},{"label":"Growth Vertical Strategy","query":"Beyond the reported growth in bingo, electronic games, and casino, what are LRWC's strategic priorities for expanding into new gaming verticals or geographical markets with this enhanced capital base?"}],"footnotes":""},"categories":[157,16333],"tags":[3857],"class_list":["post-777000988","post","type-post","status-publish","format-standard","hentry","category-business-news","category-south-east-asia-news","tag-lrwc"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777000988","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=777000988"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777000988\/revisions"}],"predecessor-version":[{"id":777001012,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777000988\/revisions\/777001012"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777000988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777000988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777000988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}