Philippine stock report #2: Leisure and Resorts World Corporation (LRWC)

Hi everyone!


Today, we focus on "Leisure and Resorts World Corporation (LRWC)"


AB Leisure Exponent, Inc. (ABLE) is 100% subsidiary of the LRWC. ABLE is also popularly known as Bingo Bonanza Corporation and is the pioneer in professional bingo gaming in the Philippines.


AB Leisure Global, Inc. (ABLGI) operates as a subsidiary of LRWC. ABLGI was incorporated to participate in the development and operation of an integrated resort which as was granted a Provisional License to PLAI by PAGCOR to establish and operate a casino. This project is known today as the City of Dreams Manila.


LRWC also acquired Total Gamezone Xtreme, Inc. (TGXI), which is the operator and licensee of PAGCOR eGames stations (PeGS) that act as a site where one can play casino games on computer terminals.


LRWC has 69.68% interest in First Cagayan & Leisure Resort Corporation (First Cagayan), exclusive Master Licensor for Interactive Gaming  of the Cagayan Economic Zone Authority (CEZA).


Owned 60% subsidiary of First Cagayan Converge Data Center, Inc. (FC Converge), a service & data center solutions provider exclusively catering to online gaming licensees in Asia.


Acquired 51% subsidiary of Hotel Enterprises of the Philippines Inc. (HEPI) which owns and operates the Midas Hotel and Casino.


LRWC acquired Prime Investment Korea, Inc. (PIKI) to expand and venture into junket operations. PIKI has a Junket agreement with PAGCOR to jointyly conduct junket gaming operations with PAGCOR's Casino Filipino located at Midas Hotel and Casino.



1. Basic Information

Leisure and Resorts World Corporation (LRWC)

Casinos & Gaming


2. History of Company

October 10, 1957: Leisure & Resorts World Corporation (LRWC), a listed Company at the Philippine Stock Exchange, was originally incorporated as Atlas Fertilizer and industrial chemicals production.

1996: The Company had its corporate restructuring.

1999: The Company's primary purpose was amended to engage in realty development focusing on leisure business.

October 1999: The Company acquired AB Leisure Exponent, Inc. (ABLE) as its wholly owned subsidiary. 

- LRWC also extended its business to professional bingo gaming through Bingo Bonanza Corporation.

September 20, 2005: The Company acquired First Cagayan Leisure and Resort Corporation (FCLRC), which has an existing license agreement with the Cagayan Exonomic Zome Authority (CEZA) to develop, operate and conduct internet and gaming enterprises and facilities in the Cagayan Special Economic Zone Freeport.


<Here's the Company's Stock Data for the past year 2017-2018>



<Stock Data of the Company from 2008 - 2018>



3. Present stock (2018/9/11)

For the fiscal year ended: Dec. 31, 2017

Currency: Philippine Pesos (PHP)

*Last Traded Price: 3.87

*Earnings / (Loss) Per Share (Basic): 0.24

*PER (price/earnings ratio): 3.87/0.24 = 16.13

*Book Value Per Share: 7.44

*PBR (Price-To-Book ratio): 3.87/7.44 = 0.52

*ROE (Return on equity): 0.24/7.44 = 3.23%

*Operating margin: 7.74%

*Sales development (2017/2016) = 88.02%

*(A) Total Liabilities: 7,837 MPHP

*(B) Retained Earnings/(Deficit): 4,379 MPHP

*(C) Income/(Loss) Before Tax: 742 MPHP

* (A) / (B) = 178.97%

* (A) / (C) = 1056.20%


4. Board of Directors

Chairman: Reynaldo P. Bantug 


Age: 68

Nationality: Filipino

Education: Master's Degree 1980 at California State University

Executive Profile:  

 - Head of 5 different companies

 - Chairman for Leisure & Resorts World Corp.

 - President of First Cagayan Leisure & Resort Corp.

 - Director of the following companies :

      1. Hotel Enterprises of the Philippines, Inc.

      2. BAPA Realty Development Corp.

      3. BAPA Holdings & Management

      4. Bacolod Real Estate Development Corp.

      5. LR Land Developers, Inc.

      6. Green Future Innovations, Inc.

      7. AB Leisure Global, Inc.

      8. Total Gamezone Xtreme, Inc.

      9. Cyberpoint Holdings & Management Corp.

      10. Aton Land & Leisure, Inc.

      11. Sunasia Energy, Inc.

      12. LR Foundation, Inc.


5. News

May 2018



Net Income of Leisure and Resorts World Corp. (LRWC) tumbled 69.7% in the first quarter of 2018 after the Philippine-listed gambling firm pulled its investment in the City of Dreams Manila project.


March 19, 2018



LRWC has acquired a 23-hectare property in Boracay to build on the island's first integrated gaming resort in partnership with Hong Kong-listed Galaxy Entertainment Group Ltd.