Business

The principal activities of the Company and its subsidiaries are:

• hotel operations and leasing of properties equipped with entertainment equipment at the hotel complex of the Group in Metro Manila in the Philippines

Hotel operations and leasing of properties
In October 2007, the Company acquired 51% equity interest in the Hotel Group in the Philippines. The Hotel Group is the owner of a deluxe casino hotel in Metro Manila, the Philippines, namely AG New World Manila Bay Hotel (https://manilabay.newworldhotels.com/en/), consisting of 32-floor luxury hotel tower with over 370 guest rooms and gaming facility. Hotel facilities include restaurants, business center, conference rooms, swimming pool, music bar and fitness center. The principal activities of the Hotel Group are hotel operations, and leasing of properties equipped with entertainment equipment at the hotel complex of the Group in Metro Manila in the Philippines.

In October 2016, the Company, through its subsidiary, completed the acquisition of the remaining 49% interest in the Hotel Group in the Philippines.