Manila-listed Leisure & Resort World Corp moved closer to acquiring the so-called e-Games outlet's largest operator in the Philippines.
Such places are restaurants or cafes that specialize in online casino-style games. They are licensed by Philippine Amuse and Gaming, the casino game operator and regulator in the Philippines.
In a disclosure to the Philippine Stock Exchange, gaming company Premier Horizon Alliance said its shareholders approved Leisure and Resorts World's offer to acquire all of Premier Horizon's Digiway Solutions shares.
Digiwave currently operates Pagcor licensed e-Games outlets in Metro Manila and nearby areas.
The proposal, sent to DigiWave shareholders on May 20, proposed the purchase of 100% of DigiWave's issued capital for PHP $620 million ($14.2 million).
Leisure & Resorts World is a holding company with broad interest in entertainment, including capital investments through AB Leisure Global Inc., a wholly-owned subsidiary of Philippine casino resort City of Dreams Manila. 파워볼실시간
In addition, Leisure & Resort World owns less than 70% of First Kagayan Leisure & Resort Corporation, a master licensee of offshore online game licenses issued by the Kagayan Special Economic Zone.