December 27, 2014 7:32 PM ET

Hotels, Restaurants and Leisure

Company Overview of AB Leisure Exponent, Inc.

Company Overview

AB Leisure Exponent, Inc., doing business as Bingo Bonanza Corporation, provides professional bingo gaming in the Philippines. The company operates bingo parlors and equipments. The company was founded in 1993 and is based in Pasig City, the Philippines. AB Leisure Exponent, Inc. operates as a subsidiary of Leisure & Resorts World Corporation.

26th Floor West Tower

Philippine Stock Exchange Center

Exchange Road, Ortigas Center

Pasig City,  1605

Philippines

Founded in 1993

Phone:

63 2 637 5291

Fax:

63 2 637 5656

Key Executives for AB Leisure Exponent, Inc.

AB Leisure Exponent, Inc. does not have any Key Executives recorded.

AB Leisure Exponent, Inc. Key Developments

ABLE Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

ABLE reported consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total revenues of PHP 1,026.7 million for the third quarter of 2014, a PHP 32.2 million or 3.2% improvement from the PHP 994.5 million revenues during the same period last year. The increase is attributable to the increase in the sales of: Electronic Bingo (E-Bingo) by PHP 75.6 million or 15.0% and Pull Tabs by PHP 2.1 million or 191.5% partially offset by the decrease in the sales of: Traditional Bingo by PHP 18.9 million or 4.7% and Rapid Bingo by PHP 26.7 million or 30.6%. Net income (net of minority share) was PHP 34.2 million, posting an increase of PHP 10.5 million or 44.4% from the PHP 23.7 million net income during the same period last year. The improvement in net income is a result of the increase in revenues coupled with the decrease in costs and operating expenses. For the nine months, the company’s revenues amounted to PHP 3,116.9 million, an increase of PHP 104.0 million or 3.5% from the PHP 3,012.9 million total revenues for the same period last year. The increase in Revenue was mainly due to the increase in revenues generated from: Electronic Bingo (E-Bingo) by PHP 235.7 million or 16.0% and Pull Tabs by PHP 5.3 million or 175.9% partially offset by the decreases in: Traditional Bingo by PHP 76.1 million or 6.1% and Rapid Bingo by PHP 61.0 million or 22.2%. Net income (net of minority share) was PHP 107.4 million, a PHP 32.0 million or 42.4% increase from the PHP 75.4 million net income for the same period last year. The increase in revenues coupled with the decrease in costs and operating expenses contributed to the improvement of the net income.

AB Leisure Exponent, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

AB Leisure Exponent, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the second quarter, the company generated total revenues of PHP 1,051.2 million, a PHP 26.7 million or 2.6% improvement from the PHP 1,024.4 million revenues during the same period last year. The company posted a consolidated net income (net of minority share) of PHP 41.0 million for the second quarter of 2014, posting an increase of PHP 14.9 million or 56.8% from the PHP 26.2 million net income during the same period last year. The improvement in net income is a result of the increase in revenues coupled with the decrease in costs and operating expenses. For the year-to-date, the company reported total revenues amounted to PHP 2,090.1 million, an increase of PHP 71.8 million or 3.6% from the PHP 2,018.4 million total revenues for the same period last year. As of June 30, 2014, the company posted a net income (net of minority share) of PHP 73.2 million, a PHP 21.5 million or 41.5% increase from the PHP 51.7 million net income for the same period last year. The increase in revenues, decrease in costs and operating expenses and the dividend income received from ABLE's investments all contributed to the improvement of the net income.

AB Leisure Exponent, Inc. Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2014

AB Leisure Exponent, Inc. reported consolidated earnings results for the first quarter ended March 31, 2014. The company generated total revenues of PHP 1,039.0 million for the first quarter of 2014, a PHP 45.1 million or 4.5% improvement from the PHP 990.8 million revenues during the same period last year. The increase is attributable to the increase in the sales of the following: (1) Electronic Bingo (E-Bingo) by PHP 90.0 million or 19.1% and (2) Pull Tabs by PHP 0.2 million or 21.2% partially offset by the decrease in the sales of the following: (1) Traditional Bingo by PHP 28.0 million or 6.6% and (2) Rapid Bingo by PHP 13.7 million or 14.7%. Traditional Bingo sales for the first quarter of this year contributed about 38.2% of total revenues, a drop of PHP of 4.7% from the 42.9% contribution during the first quarter of 2013. Traditional Bingo sales for the first quarter of 2014 amounted to PHP 396.6 million, posting a decrease of PHP 28.5 million or 17.2% from PHP 425.1 million during the first quarter of 2013. During the first quarter of 2014, sales from Rapid bingo contributed PHP 79.6 million or 7.7% of total revenues as compared to PHP 93.4 million or 9.7% contribution to total revenues for the same period last year. There was a decrease in sales amounting to PHP 13.7 million or 14.7% from the first quarter of 2013. The company posted a consolidated net income (net of minority share) of PHP 32.2 million for the first quarter of 2014, posting an increase of PHP 3.8 million or 13.6% from the PHP 28.3 million net income during the same period last year. The improvement in net income is a result of the increase in revenues and other income and slight decrease in costs and operating expenses.

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