Australia-listed Frontier Capital Group Ltd. reopened gaming operations at the Hotel Stotsenberg in the Clark Freeport Zone on Saturday, July 28. The casino’s soft launch, held on June 10, was attended by inspectors of the country’s casino regulator, the Philippine Amusement and Gaming Corp.
In February 2016, the company assumed control of the hotel and the gaming operation, formerly known as Casablanca Casino. Gaming operations were suspended for several years because the company did not comply with PAGCOR regulations, and trading in the firm’s shares was suspended. Frontier settled an escrow account of PHP225 million (US$4.39 million) to help it meet the regulatory requirements.
Company Chairman Henri Ho said Frontier “is pleased to have passed all hurdles and reinstating operations of the casino at our Stotsenberg Hotel.” The gaming facility will operate under the branding FortuneGate Casino, according to a filing.
Ho said FortuneGate has a “well-established track record in profitable casino operations” and “strong support in VIP markets, with a focus on the Philippine market.” It added: “The Casablanca Casino has been rebranded ‘FortuneGate Casino’ to capitalize on FortuneGate Holdings’ Southeast Asian market presence.”
