July 09, 2014 9:48 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

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.

AB Leisure Exponent, Inc. Announces Consolidated Earnings Results for the First Quarter Ended March 31, 2013

AB Leisure Exponent, Inc. announced consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company generated total sales of PHP 990.8 million for the first quarter of 2013, an PHP 8.7 million or 1.9% growth from the PHP 972.1 million total sales for the same period in 2012. The increase in total sales is due to the increase in sales of Electronic Bingo, partly offset by the decrease in the sales of Traditional Bingo, Rapid Bingo and Pull Tabs. Net income (net of minority interest) was PHP 28.3 million for the first quarter of 2013, a decrease of PHP 7.9 million or 21.8% from the PHP 36.2 million net income for the same period in 2012. Despite the improvement in revenues coupled with a decrease in cost and operating expenses, ABLE's increased payments for franchise and regulatory fees accompanying the increase in revenues resulted in the decrease in the net income.

AB Leisure Exponent, Inc. Announces Consolidated Earnings Results for the Year Ended December 31, 2012

AB Leisure Exponent, Inc. announced consolidated earnings results for the year ended December 31, 2012. For the year, the company reported total sales of PHP 3,850.6 million for 2012, a PHP 220.9 million or 6.1% growth from the PHP 3,629.7 million total sales for 2011. Net income (exclusive of minority interest) was PHP 124.4 million in 2012, an increase of PHP 72.7 million or 140.7% from the PHP 51.7 million consolidated net income in 2011. The improvement in net income is mainly due to higher revenues generated from Electronic Bingo in 2012 coupled with lower operating expenses.

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