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14.01.2020

Frontier Capital Group Shareholders Approve Casablanca Casino Acquisition

Frontier Capital Group Ltd. investors approved on Thursday the proposed acquisition of Stotsenberg Leisure & Hotel Corporation, including Stotsenberg Hotel and Casablanca Casino, located in the Philippines’ Clark Freeport Zone. The deal will be finished later on 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 get Stotsenberg Leisure & Hotel Corporation back in 2015 november. It’s going to pay the above-mentioned consideration in 154.05 million Frontier Capital stocks which will be used in the seller in three tranches.

The business said on that its shares have been suspended so that it can change the description of its activities after the acquisition of the hotel and casino complex thursday. The stocks are to be suspended up until the beat online casino games Australian Securities Exchange approves the re-compliance featuring its guidelines.

The Stotsenberg resort presently features 239 rooms as well as a quantity of meals and beverage options, destinations, and a convention center with space for up to 2,000 individuals. In terms of Casablanca Casino, it’s motivated by the popular hit movie and contains 36 gaming tables, 190 slots, and two spaces for VIP gambling customers. The complex is located into the Clark Freeport Zone, maybe not not even close to the Clark International Airport.

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