The holding company of Leisure & Resorts World Corporation (LRWC) has approved a private placement on the company’s unissued capital stock of 1.3 million shares, to raise a total of Php2.1bn ($40.33m). LRWC has set common shares at an issue rate of Php1.65 per share to achieve its desired sum.
Part of the funds will be used to finance the company’s operational and capital expenditures, and to lower LRWC’s accumulated debts by paying off existing loans.
In addition, LRWC claims the money raised will be used to develop the company’s online platform and provide clients with new and improved iGaming experiences.
The company feels the announcement of its private placement signifies strengths in its growth potential, and in the level of trust and support it has from its investors.
Mr. Eusebio Tanco, the chairman of LRWC, is claimed to have a positive outlook on the new developments, having participated in the private placement scheme himself.
Problem gambling rates stabilise in Macau during 2021
The number of Macanese citizens that have reported a gambling disorder to the Central Registry System stabilised, with just one additional person reporting a gambling issue in 2021 compared to the previous year.
The gambling addiction percentage ratio between men and women has widened since 2017, with 74% of those reporting an issue being men in 2021. This is up on the 65% of men who reported a gambling addiction in 2017
This is a marked improvement from 2017, the highest year on record for the number of people seeking support for gambling-related issues. The figure stood at 157 people then.
However, the gambling addiction percentage ratio between men and women has widened since 2017, with 74% of those reporting an issue being men in 2021. This is up on the 65% of men who reported a gambling addiction in 2017.
It's resultantly clear the levels of those reporting addictions have decreased, but the gender divide between those experiencing issues has only grown.
And among the Macanese men with gambling addiction issues, 31% are between the ages of 30 and 39. This represents the highest levels of addiction among any age group in men.
Further figures from Macau’s Central Registry System detail that of those addicted to gambling, 49% are married, up 2% from 2020.
What’s more, 63% of those addicted to gambling have been Macanese residents for over 20 years. A significant 65% of addicts are also in employment, compared to 18% of addicts being retired, and 17% being unemployed.
It's yet unclear how these figures will react when Macau's gaming sector booms into life again, post-Covid-19.
Macau operators to pay up to MOP50m to extend licences
Reports have emerged on TDM-Radio Macau that the gaming region’s six concessionaires could have to pay a combined MOP1.6bn ($198.5m) to extend their licences until the end of the year.
As recently reported, Macau has extended the licensing period to provide more time for casinos to finance the rebidding process. Initially due to expire in June, the Macanese Second Standing Committee has agreed to extend these licences by six months.
However, it now seems there will be a price to pay for this extension, although the TDM-Radio broadcasters gave little added information on the subject.
Yesterday, further details emerged on a high-profile meeting of the Second Standing Committee of the Legislative Assembly, and its plans to reduce the numbers of slot machines and gaming tables available at any one time in a single casino.
It was also revealed the Government of Macau intends to enforce regulations more stringently in so-called satellite casinos.
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