{"id":224892,"date":"2019-07-29T04:12:06","date_gmt":"2019-07-29T08:12:06","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=224892"},"modified":"2019-07-29T04:12:06","modified_gmt":"2019-07-29T08:12:06","slug":"p4-4-b-fresh-capital-to-fuel-lrwcs-growth","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2019\/07\/29\/p4-4-b-fresh-capital-to-fuel-lrwcs-growth\/","title":{"rendered":"P4.4-B fresh capital to fuel LRWC\u2019s growth"},"content":{"rendered":"<figure id=\"attachment_224893\" aria-describedby=\"caption-attachment-224893\" style=\"width: 415px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/07\/0-02-06-f5b8a01c6d97198f3a95cbee11cd924b47665988e05c58685a03295191d285c2ceaabb2a.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-224893\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/07\/0-02-06-f5b8a01c6d97198f3a95cbee11cd924b47665988e05c58685a03295191d285c2ceaabb2a.jpg\" alt=\"\" width=\"415\" height=\"260\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/07\/0-02-06-f5b8a01c6d97198f3a95cbee11cd924b47665988e05c58685a03295191d285c2ceaabb2a.jpg 415w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/07\/0-02-06-f5b8a01c6d97198f3a95cbee11cd924b47665988e05c58685a03295191d285c2ceaabb2a-300x188.jpg 300w\" sizes=\"auto, (max-width: 415px) 100vw, 415px\" \/><\/a><figcaption id=\"caption-attachment-224893\" class=\"wp-caption-text\">LRWC earlier disclosed that a large portion of the proceeds from the private placement will be used to refinance its existing obligations which will improve cash profit through reduced interest expenses. (PNA Photo)<\/figcaption><\/figure>\n<p><strong>MANILA<\/strong>\u00a0\u2013 After successfully raising PHP4.4 billion via placement of shares, Leisure &amp; Resorts World Corporation (LRWC) is aggressively implementing expansion initiatives by developing new gaming sites, buying existing ones, and expanding profitable ones.<\/p>\n<p>It plans to open or acquire 10 to 15 new sites for its bingo, e-casino, and slot arcade businesses as well as continue the renovation and modernization of existing outlets.<\/p>\n<p>\u201cThe capital infusion will not only help sustain LRWC\u2019s dominance in the gaming sector through expanded footprint but will also greatly strengthen its financial position,\u201d the company said in a statement.<\/p>\n<p>LRWC earlier disclosed that a large portion of the proceeds from the private placement will be used to refinance its existing obligations which will improve cash profit through reduced interest expenses.<\/p>\n<p>In 2018, the company reported gross revenues of PHP15.4 billion, which is 5.5 percent higher than its 2017 gross revenues of PHP14.6 billion.<\/p>\n<p>LRWC continued to register new record-high revenue performance in the first half of 2019, mainly driven by the strong growth of its retail and slot arcade businesses.<\/p>\n<p>\u201cWith major transformations in the pipeline, LRWC will ramp up its expansion and improvement initiatives in order to achieve a sustainable and more profitable growth,\u201d it added.\u00a0<em><strong>(PR)<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA\u00a0\u2013 After successfully raising PHP4.4 billion via placement of shares, Leisure &amp; Resorts World Corporation (LRWC) is aggressively implementing expansion &hellip;<\/p>\n","protected":false},"author":44,"featured_media":224893,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-224892","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/224892","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=224892"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/224892\/revisions"}],"predecessor-version":[{"id":224894,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/224892\/revisions\/224894"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/224893"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=224892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=224892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=224892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}