Operator News
Philippines – FortuneGate Casino makes profit of AU$2.14m following June reopening
By Phil - 1 March 2020
Philippine casino operator Frontier Capital Group (FCG) saw a 1,000 per cent increase in revenue to AU$28.8m during following the July relaunch of FortuneGate Casino in Clark Freeport Zone.
Located inside the Stotsenberg Hotel, the casino replaced the former Casablanca Casino after closing in 2017 after PAGCOR, the Philippine gaming regulator, demanded a tax payment of a Php225m from its former owner.
The casino recorded a loss of AU$820,000 in 2018, which turned to a profit of AU$2.14m. The operation’s revenue for 2019 was almost entirely from gaming, which contributed AU$27.75m.
FortuneGate Holdings Philippines Inc (FHPI), part of Hong Kong’s Goldenway Investment Holdings Limited Group, was appointed as manager of the casino before its reopening.
