{"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

The company aims to strengthen its technology platforms and develop better products and services.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- Leisure & Resorts World Corp <\/strong>(LRWC) has announced that it hopes to raise 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

At a stockholders\u2019 meeting, the company said the purpose of the placement is “to further strengthen its technological platforms, to develop better products and services, and to support the expansion of the Company\u2019s businesses.” It also needs to <\/strong>have more ready capital<\/strong> to support the cost of operational and capital expenditures.<\/p>\n\n\n\n

In March, LRWC issued 1.27bn common shares<\/a> at an issue price of Php1.65 per share. <\/p>\n\n\n\n

Leisure & 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.” Third-quarter EBITDA <\/strong>showed a growth of 602 per cent from last year\u2019s loss of PHP111m to a positive PHP560m.<\/p>\n\n\n\n

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

LRWC President Andy Tsui<\/strong> said: “We will continue to strive for improvement and maximize returns for our stakeholders.”<\/p>\n","protected":false},"excerpt":{"rendered":"

The company aims to strengthen its technology platforms and develop better products and services.<\/p>\n","protected":false},"author":176,"featured_media":22068,"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","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\/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:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22068"}],"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}]}}