Frontier Capital Group moves into profit in 2019 on Clark casino re-launch - IAG

Saturday 29th February 2020

Australian-listed Frontier Capital Group (FCG) has reported a 1,000% increase in revenue to AU$28.8 million for the year ended 31 December 2019 following the mid-year relaunch of its Philippines casino operation in Clark.

Located inside the Stotsenberg Hotel, the former Casablanca Casino re-opened on 10 June 2019 under the new name FortuneGate Casino, having previously been forced to close in early 2017 after Philippines gaming regulator PAGCOR ordered a Php225 million escrow payment related to obligations of the former owner.

Having recorded a loss of AU$820,000 in 2018, FCG announced on Friday a profit of AU$2.14 million. Revenue for the year was comprised almost entirely from gaming, which contributed AU$27.75 million.

In previous announcements related to the company's casino operations, FCG revealed than entity called FortuneGate Holdings Philippines Inc was had been appointed as casino manager.

We use cookies and other tracking technologies to improve your browsing experience on our website, to show you personalized content and targeted ads, to analyze our website traffic, and to understand where our visitors are coming from. By browsing our website, you consent to our use of cookies and other tracking technologies. View more
Agree & Continue