The Philippine company, Leisure and Resorts World has announced this week that they are to launch a new brand for its retail bingo gaming outlets, following the companies takeover of Total Gamezone Extreme, who own Bingo Bonanza.
The new brand will be unveiled later this year, with the company planning to establish another twenty gaming outlets in the Philippines before 2015. These outlets will offer a range of gaming offerings, as well as bingo. It is estimated to cost P300 million.
Bingo Bonanza operated 39 traditional bingo halls and 35 bingo boutiques with electronic machines by the end of 2013, making it the biggest bingo operator in the Philippines.
The deal to acquire Total Gamezone Extreme has been valued at P620 million (€10.6 million/$14.3 million).
The vice president of Leisure and Resorts World, Christina A. Bautista, said that the company is building 20 Bingo boutiques in Metro Manila and in key provincial cities in Pampanga, Cebu, Bacolod, Bohol, Isabela, among others.
Each bingo boutique is estimated to cost P10-15 million.
Reynaldo P. Bantug, chairman and president of LWRC, said the company expects to sustain its revenue growth boosted by its electronic and traditional bingo games.
“The electronic version of bingo has continued to be the main driver of growth. We added 1,346 electronic bingo machines in 2013 to bring the total to 5,390 by yearend,” he said.
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