Frontier Capital Group Shareholders Approve Casablanca Casino Acquisition
Frontier Capital Group Ltd. shareholders approved on Thursday the acquisition that is proposed of Leisure & Hotel Corporation, including Stotsenberg resort and Casablanca Casino, found in the Philippines’ Clark Freeport Zone. The deal is to be completed later on in January while the Australia-listed team is to cover the amount of $26 million for the hotel and casino complex.
Frontier Capital announced its choice to purchase Stotsenberg Leisure & Hotel Corporation back in November 2015. It will pay the consideration that is above-mentioned 154.05 million Frontier Capital shares that will be used in the vendor in three tranches.
The organization said on Thursday that its stocks have already been suspended such that it can replace the description of its tasks after the acquisition of this resort and casino complex. The shares are to be suspended up to the Australian Securities Exchange approves the re-compliance using its rules.
The Stotsenberg Hotel presently features 239 spaces in addition to a true quantity of meals and drink options, tourist attractions, and a convention center with space for up to 2,000 individuals. In terms of Casablanca Casino, it’s influenced by the hit that is popular and has 36 gaming tables, 190 slot machines, and two spaces for VIP gambling clients. The complex is located into the Clark Freeport Zone, not far from the Clark airport terminal.
E!xcite Gaming and Entertainment Inc. Continue reading
Thousand Islands Casino to keep in Gananoque
Great Canadian Gaming, this new owner of Thousand isles casino in Gananoque, assured neighborhood businesspeople that the gambling venue wouldn’t be banished.
Rod Baker, CEO for the gambling operator which recently acquired a controlling interest in the casino, said that the Ontario Lottery and Gaming Corporation has provided them the exclusive right to operate it for 20 years and a possibility for the additional extension and that they have been there to stay so long as they are able to.
Mr. Baker, along with five other Great executives that are canadian two OLG officials, went to a Chamber of Commerce morning meal. They met about 100 business that is local and politicians and informed them about their plans for the casino. Mr. Baker told community they are actually excited to be part of it.
Local businesspeople commented that there is a ‘massive, collective sigh of relief’ in the region after Great Canadian together with OLG announced that the gambling venue would stay in Gananoque and wouldn’t be relocated to Kingston.
Gord Brown, a local MP, stated that the casino will probably flourish as a result of the low gas prices in combination with the dollar that is low. And right here you should observe that it was precisely the law dollar and Gananoque’s proximity towards the U.S. border that led to the construction regarding the casino into the town and not elsewhere. Thousand Islands was founded back in 2002.
Great Canadian has recently won the right to run the casinos in Ontario’s East Gaming Bundle. Continue reading