LRWC forms P100-million IT unit for casino equipment

Leisure and Resorts World Corp. (LRWC) had formed an 80 Percent owned information technology unit LR Data Center and Solutions Inc. (LRDCSI). 

LRDCSI an authorized capital stock of P100 million representing 100 million shares with a P1 par value, of which P25 million has been actually subscribed, LRWC reported to the bourse.

LRDCSI will engage in information technology and communication and will own, develop, produce, design, integrate, install, sell, by, rent, establish, manage, audit, rehabilitate, integrate, operate, lease or otherwise dispose of and generally deal in and with systems, facilities, equipment, devices and services involving the processing, movement, monitoring and retrieval of information including but not limited to data, voice, image, video, audio, tone or any form or kind of communication, the LRWC report said.

In a separate disclosure issued recently, LWRC has obtained the approval and confirmation of state-owned Philippine Amusement and Gaming Corp. (Pagcor) relevant to the assignment of the contracts of lease of VIP Clubs in favor of LRWC’s subsidiary, Blue Chip Gaming and Leisure Corp. (BCGLC).

The contracts of lease covers four Pagcor VIP Clubs at Subic Bay Freeport Zone, Subic, Zambales, with Palmgold International Limited; Pan Pacific, Malate, Manila with Pacific Palm Corp.; Paseo Premier Hotel, Sta. Rosa Laguna with Pacific Palm Corp.; and Apo View Hotel, Davao City with Pacific Palm Corp.

“The confirmation and approval of said assignment is still subject to the execution of the Amended Contracts of Lease covering the aforementioned VIP Clubs in favor of BCGLC,”