Tag Archives: First Cagayan
- LRWC net income slump extends in Q2
August 15, 2017
The continued exodus of online gambling locators from First Cagayan Leisure and Resort Corp. (FCLRC) has dragged down the net income of Philippine-listed holding company Leisure and Resorts World Corporation (LRWC). In a disclosure to the Philippine Stock Exchange on Monday, LRWC reported that the company’s net income plunged 72...
- First Cagayan lost half its online gambling licensees to PAGCOR
August 4, 2017
The Philippines’ former main online gambling licensing body has lost nearly half its licensees since the government assumed greater oversight of the industry last year. This week, Francis Hernando, chief operating officer of Philippine gaming operator Leisure and Resorts World Corp (LRWC), told the Philippine Star that the company’s First...
- First Cagayan vows tech boost to retain online gambling licensees
January 20, 2017
First Cagayan Leisure and Resort Corporation plans to spend millions to boost its technical infrastructure in the hope of retaining its online gambling licensees, but it may be making beds in a burning house. This week, online gambling operators licensed in the Cagayan Economic Zone Authority (CEZA) began receiving letters...
- Philippine online gaming industry still unsure where it stands
December 27, 2016
Online gambling technology provider PhilWeb’s hopes of acquiring a new gaming license in the Philippines have hit a major snag. On Tuesday, PhilWeb filed papers with the Philippine stock exchange revealing that the Philippine Amusement and Gaming Corporation (PAGCOR) had informed PhilWeb that the company will have to compete for...
- Duterte to gambling sites: get POGO license or get out
December 22, 2016
More details have emerged on Philippine President Rodrigo Duterte’s latest vow to target the local online gambling industry. Following Duterte’s public pronouncement on Thursday that he’d ordered the “closure of all online gaming,” Justice Secretary Vitaliano Aguirre II told reporters that he’d been given “a marching order to investigate the...
- New Philippines president says he’ll ask PAGCOR to revoke online gambling licenses
July 1, 2016
The Philippines-based online gaming industry held its breath on Thursday after the country’s new president said “online gambling must stop.” Newly elected President Rodrigo Duterte (pictured) made the surprise announcement at his first cabinet meeting following the official swearing-in ceremony earlier on Thursday. The meeting was televised and is viewable...
Okada Manila eyes Philippine backdoor listing
May 2, 2017