LRWC expansion to proceed amid Philippine president’s anti-gambling stance

Philippine-listed gambling firm Leisure & Resorts World Corp. (LRWC) remains undaunted by the earlier announcement of Philippine President Rodrigo Duterte that online gambling must stop as it reveals its plans to expand its gaming business in the island nation.

Business World reported LRWC Chairman and President Reynaldo Bantug shrugged off reports that the Philippine Gaming and Amusement Corporation (PAGCOR) has already revoked 124 eGames permit in the country, saying that it is still “business as usual” for the company.

“In our business, it’s not really affecting us too much at all because even the e-Games, it’s business as usual. There is really no change in how we are operating the games,” Bantug told local media at the annual stockholders’ meeting in Pasay City on Friday.

LWRC owns 69.68 percent of First Cagayan Leisure and Resorts Corp. Aside from bingo halls and outlets, it also offers electronic games launched by PhilWeb Corp. under a license from PAGCOR.