Frontier Capital expects Casablanca Casino to double profit

Frontier Capital Group said in a filing that it expects the Casablanca Casino in the Philippines to double its profit from $5 million to $11.7 million when the casino expands.

The group has advised an aggressive growth strategy to be implemented early 2016 into 2018 for the Casablanca Casino, which operates from the Stotsenberg Hotel in Pampanga, Philippines, the group announced earlier in the week.

The recently announced A$450 million ($319.5 million) passenger terminal expansion project at Clark International Airport will see the number of passengers double to 8 million annually, FCG said.

“The airport is conveniently located less than 2km from the Stotsenberg Hotel and Casablanca Casino.”

The group said tables will expand from 36 currently to 47 by the target period and for slots to grow from 190 to 250. The casino’s profit target is to reach $25 million within the first three years of operation.