FCG gets shareholder approval for Clark Casino acquisition

Australia-listed Frontier Capital Group Ltd (FCG) received the go-ahead from shareholders for the acquisition of the Hotel Stotsenberg and Casablanca Casino, operating in the Clark Freeport Zone in the Philippines.

The company announced to the ASX on Nov. 6, 2015 that the company had agreed, subject to shareholder approval and some other conditions, to acquire the entire issued capital of Stotsenberg in return for the issue of 154.05 million shares.

The deal is set to finalize before the end of the month.

In related news, according to a report from Alpha Securities Pty Ltd earlier this week,  FCG is also likely to introduce live telephone betting at the casino property under its expansion plan.