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, found in the Philippines’ Clark Freeport Zone. The deal will be finished later on in January and the group that is australia-listed to cover the quantity of $26 million for the resort and casino complex.
Frontier Capital announced its choice to buy Stotsenberg Leisure & Hotel Corporation back 2015 november. It will spend the above-mentioned consideration in 154.05 million Frontier Capital shares that will be utilized in the vendor in three tranches.
The organization said on Thursday that its shares find an online casino are suspended such that it can change the description of its activities following the purchase of this hotel and casino complex. The shares are to be suspended up until the Australian Securities Exchange approves the re-compliance with its guidelines.
The Stotsenberg Hotel currently features 239 rooms as well as a true amount of meals and drink choices, destinations, and a meeting center with room for up to 2,000 individuals. In terms of Casablanca Casino, it’s influenced by the popular hit film and contains 36 gaming tables, 190 slots, and two rooms for VIP gambling customers. The complex is located in the Clark Freeport Zone, perhaps not not even close to the Clark International Airport.
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