Aggressive Expansion of Gaming Facilities to Drive Casino Growth
Sydney, Nov 17, 2015 AEST (ABN Newswire) - Frontier Capital Group Limited (
ASX:FCG) (Company or Frontier Capital or FCG) is pleased to advise an aggressive growth strategy to be implemented early 2016 into 2018 for the Casablanca Casino that operates from the Stotsenberg Hotel.
Highlights:
- Expansion plans for Gaming Tables and Slot Machines
- US$25 million profit already guaranteed over 5 years
- Recent airport expansion to support FCG Expansion
- Key management already appointed to implement growth strategy
- Forecast profit numbers expected to be released shortly
The recently announced AU$450M Passenger Terminal expansion project at Clark International Airport will see the number of passengers double to 8 million annually. The airport is conveniently located less than 2km from the Stotsenberg Hotel and Casablanca Casino.
The following table shows the current and planned growth of the Casablanca Casino:
------------------------------ Current Expansion Target------------------------------GamingTables 36 47------------------------------Slotmachines 190 250------------------------------
As previously announced (ASX : 6/11/15), experienced Casino operators E!xcite Gaming and Entertainment Inc (E!xcite) has provided a 5 year profit guarantee of US$5 million per annum (US$25M). Management is currently finalising modelling of projected profit as a result of the expansion in operations.
Frontier Capital COO Ken Wong commented, "The expansion of the Clark International Airport will drive more visitations to Clark. Clark is a safe place to visit, with good supporting infrastructure, no traffic congestion and close proximity to tourist attractions, hence, it will soon become the prime destination for Leisure and Entertainment."
About Frontier Capital Group
Frontier Capital Group Limited (formerly Precious Metal Resources Limited) has acquired CK Graphic Sdn Bhd. CK Graphic was established in Malaysia in 2003 and has grown as a digital visual communication company dedicated to providing its clients with dynamic lasting digital design solutions using the latest media and visualisation technology.
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