Australia-listed casino investor Frontier Capital Group Ltd. says it has found the money to reopen the Casablanca Casino in the Philippines’ Clark Freeport Zone. The casino located inside the Hotel Stotsenberg was ordered to close in early 2017 after the firm missed escrow payments in the amount of AU$6.5 million (US$4.3 million). The 239-room hotel has remained open.
According to GGRAsia, in a March 11 filing to the Australia Stock Exchange, Frontier Capital said it has “secured the funds necessary to satisfy the Philippine Amusement and Gaming Corp. requirements to reinstate operations of the Casablanca Casino, which is imminent.”
Frontier Chairman Henri Ho said the company has “worked diligently to satisfy PAGCOR’s operational requirements. Frontier Capital Group will soon recommence operations at the Casablanca Casino, with a healthy bank balance.”
In February 2016, Frontier acquired Stotsenberg Leisure Park and Hotel Corp., which controlled the Hotel Stotsenberg and Casablanca Casino. In September 2017, Frontier Capital had said it was looking for a new partner to operate gaming at the venue.
