Philippines awards country's first online bingo license to LRWC
PAGCOR —the state-run Philippine Amusement and Gaming Corporation— has issued its first online bingo license. The recipient of the first-of-its-kind Online Traditional Bingo (OTB) license is the holding company Leisure & Resorts World Corporation (LRWC), a Philippine Stock Exchange-listed business working within the gaming and hospitality industries.
The awarding of the license will allow the company to offer bingo games both through onsite and offsite platforms. The group is known in the country for a wide variety of products, including the Bingo Bonanza halls.
“One of the company’s major strategies is to strengthen online platforms to provide more and better playing opportunities to customers during the pandemic and beyond,” LWRC President Andy Tsui said in a press statement, according to Business Inquirer. “OTB is a great way to enjoy bingo from the comfort of home without having to miss out on social interaction and have the chance to win huge prizes.”
The company will be soft-launching OTB through a new brand called BingoPlus, under its AB Leisure Exponent Inc. (ABLE) subsidiary. According to the company, this “innovative game” is set to transform the way traditional bingo is played “by combining the excitement of the old and the convenience of new technology.”
The new product is in line with LRWC’s key strategy to expand its reach via online platforms, and the OTB is expected to become one of the main revenue streams for the company in the future, the business explained in a disclosure to the Philippine Stock Exchange on Thursday.
“More bingo patrons are expected to sign up as the game can be conveniently accessed online via streaming and can also be played on-site initially in 18 Bingo Bonanza Traditional Bingo Halls in Metro Manila and other provincial areas,” LRWC says. The company also plans to expand the on-site offering of the OTB in other traditional bingo sites nationwide.
The company describes Online Traditional Bingo as “the perfect alternative” for those who enjoyed playing social bingo prior to lockdown, as it enables players to enjoy bingo from the comfort of their own homes. “The social aspect is still there,” claims the business, through online bingo chatrooms where players can “enjoy good banter with fellow participants.”
While the company sees OTB as a golden opportunity to build open the popularity of bingo through the online space, LRWC remains committed to “looking into the possibility of expanding the OTB into other on-site branches” of Bingo Bonanza, Bingo Boutique and Gamezone under the Bingoplus brand.