Frontier Capital Group Shareholders Approve Casablanca Casino Acquisition
Frontier Capital Group Ltd. shareholders authorized on Thursday the proposed acquisition of Stotsenberg Leisure & Hotel Corporation, including Stotsenberg Hotel and Casablanca Casino, found in the Philippines’ Clark Freeport Zone. The deal is usually to be finished later in January while the group that is australia-listed to pay for the quantity of $26 million for the hotel and casino complex.
Frontier Capital announced its decision to buy Stotsenberg Leisure & Hotel Corporation back November 2015. It’ll spend the above-mentioned consideration in 154.05 million Frontier Capital shares which is used in the seller in three tranches.
The business stated on Thursday that its stocks have been suspended such that it can change the description of its tasks following the purchase regarding the hotel and casino complex. The shares should be suspended up to the Australian Securities Exchange approves the re-compliance with its guidelines.
The Stotsenberg resort currently features 239 rooms as well as a amount of food and beverage choices, attractions, and a meeting center with space for approximately 2,000 people. In terms of Casablanca Casino, it’s motivated by the popular hit movie and has 36 video gaming tables, 190 slots, and two spaces for VIP gambling clients. The complex is located in the Clark Freeport Zone, maybe not far from the Clark International Airport.
E!xcite Gaming and Entertainment Inc. Read more