Leisure and Resorts World Corp. (LRWC) said it has reduced its loss to P895 million as if last year compared to 2020’s P1.34 billion.
Revenue hit P2.81 billion, down 22 percent from 2020’s P3.58 billion.
“This was mainly because of decline in traditional bingo revenue and Cagayan Group’s hosting and licensing fees,” it said.
The company said it has reduced its operating cost recorded at P3.24 billion last year compared to P4.21 billion in 2020.
“As the market recovers gradually from the pandemic, the company is also making rigorous efforts to break through the challenges. With the launching of the company’s newest product, BingoPlus, LRWC is positive for a better financial outlook in 2022,” LRWC said.
LRWC said BingoPlus has been giving away millions of prizes since its soft launch five months ago, awarding a a total of P161 million in prizes to 96 bingo winners and 14 jackpot winners.
