Leisure and Resorts World Corp. (LRWC) says it will be using the proceeds of its private placement of shares to fund its expansion plans.
The gaming company successfully raised P4.4 billion in a private placement of shares.
As part of its expansion plan, the company said it intends to expand its retail and slot machines, which have been growing at double-digits.
“In particular, LRWC 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 for first-class gaming experience,” LRWC said.
As of the end of 2018, the company owns 192 sites.