Listed resorts and gaming site operator Leisure and Resorts World Corp. (LRWC) on Tuesday said its unit will launch its own sports betting platform just weeks after securing the gaming regulator’s approval.
In its disclosure, LRWC’s unit Total Gamezone Xtreme Inc. said it will start the full operation of its betting platform called Gsports, wherein gamblers can place wagers on a variety of betting markets across professional, collegiate and other sports leagues via retail or online.
The said LRWC unit recently secured accreditation from the Philippine Amusement and Gaming Corp. (Pagcor) as an official sports betting system service provider.
The online Gsports sportsbook, allows gamblers to use a gadget of their choice like tablet, laptop or smartphones to quickly start placing wagers. Sports fans can place bets on any competition and live betting from across the world 24/7, ranging from well-known sports like football, tennis, basketball, volleyball, to popular leagues and even to niche markets.
“Gsports also offers competitive and better odds in different markets which give higher chances of bigger profit for the sports betting fan,” the company said.
“Gsports provides a secure and safe betting website by using the latest encryption technologies to protect the sensitive information of its customers. Fairness and quality playing experience are guaranteed as all its betting products and services are audited and regulated by Pagcor.”
LRWC’s electronic gaming system and remote gaming platform was initially launched on July 15.
The company posted an attributable net loss of P358.3 million in the first half, narrower than the previous year’s loss of P500.9 million. The improvement is mainly due to the significant decline in costs which was partially offset by the decline in gross gaming revenue.
Gross profit fell by more than a third to P530.27 million from last year’s P834.44 million mainly due to the reduction of gaming revenue from all segments.
“All casino and retail sites were closed from mid-March 2020. After submission of strategic return to work guidelines and safety operation measures, we were able to open 10 retail sites with 50 percent occupancy by the end of June and open 3 sites of Blue Chip by the middle of June,” the company said.
Gross revenues from the casino business registered a decline of 62 percent to P294.04 million from last year’s P781.7 million as its income from junket operations fell by 100 percent.