As it was concluded on Sunday last week, the newly re-branded Frontier Capital’s casino has finally opened its doors to the public. After its soft-launch which took place in June, the New South Wales-based casino investor used its official press release to announce that its former Casablanca Casino, now FortuneGate Casino located at the Clark Freeport Zone has resumed its gaming operations. The casino operates within the Hotel Stotsenberg.
All gaming operations at the former casino had been terminated by the country’s gaming regulator on the 3rd of February, 2017. As it was reported, the Philippine Amusement and Gaming Corp issued the order for terminating gaming activities at the Casablanca Casino for failing to meet specific escrow requirements. In their official press released, the Frontier’s officials said that the Philippine Amusement and Gaming Corp inspectors attended the FortuneGate Casino’s soft opening after which they verified the facility’s compliance.
This was the most important step for the operator to resume its gaming operations within the re-branded FrontierGate Casino. It is worth mentioning that the holding company for both the casino and the Hotel Stotsenberg, Frontier Capital acquired the hotel’s shares in January of 2016 for around $26 million. One month later, the Australian company has gained full control of the hotel and all facilities within.
Frontier Capital Settling an Escrow Account
After the Philippine Amusement and Gaming Corp issued the order for the casino closure, the regulator’ Chief Executive Officer and Chairman Andrea Domingo said that the casino failed to meet the mandatory escrow requirements after multiple extensions. For this reason, the country’s regulator had required the holding owner, Frontier Capital to settle a separate escrow account with around $4.39 million.
After setting the escrow account, Frontier Capital’s officials said that this step was, in fact, the company’s full compliance with the escrow requirements set by the country’s regulator for casino operators. Following the news about the launch of its re-branded casino, the Frontier Capital’s Chairman Henri Ho stated that the company is delighted to have finally passed all reinstating operations and hurdles of the casino. He also added that the company is looking forward to expanding its gaming operations alongside FortuneGate Casino which has already established itself as a reputable name in the industry.
FortuneGate Casino Featuring More Than 134 Slot Machines
As it was reported, the newly rebranded FortuneGate Casino will feature 134 slot machines alongside 28 table games and a money wheel. Moreover, the casino will also feature VIP rooms, a massive entertainment area with a bar and several non-gaming facilities. The holding owner, Frontier Capital also said that FortuneGate Casino has the company’s strong support in all VIP markets including the Philippine market.
Furthermore, FortuneGate Holdings which owns FortuneGate Casino is listed as a Philippine company which invests in land-based casino projects including casino resorts. The company’s listing also says that it is a provider of casino management services and operations. As it was revealed recently, the company is also one of the majority stakeholders in Tech Innovation Management Ltd. which is a British Virgin Islands-headquartered company. While the company will focus on serving the massive Philippine gaming market, it also intends on capitalizing on its presence across Southeast Asian gaming markers as well.
