“Galaxy is excited about the possibility of teaming with Leisure and Resorts to develop a world class beach resort for our players in Boracay which was just rated the number one island in the world in 2017 by Conde Nast Traveller readers,” said Francis Lui Yiu Tung, vice chairman of Galaxy Entertainment, speaking to the gaming media.
The executive reportedly met with the Philippines president Rodrigo Duterte on 6 December, to discuss “potential business opportunities in the Philippines”.
Galaxy and its partner Leisure and Resorts World Corp, plan to open a US$300 million to US$500 million casino on the resort island of Boracay, Pagcor chairman Andrea Domingo confirmed on 7 December, with both companies applying for a licence.
“Galaxy strongly believes the Philippines has great potential and offers attractive opportunities,” Lui said, referring to China’s economic and diplomatic program to increase trade with countries in the region.
At present, Melco Resorts is the only Macau-based operator to have a footprint in the Philippines. The firm’s US$1 billion City of Dreams Manila opened its doors in Manila’s Entertainment City in 2015.
In March, Pagcor stated that it would refrain from issuing new gaming licences in Manila during the next five years, following requests by existing integrated resort operators. Instead the regulator stated that it would encourage integrated resorts in other areas of the country, looking to the central island of Cebu as the Philippines’ next major gambling destination.
Source: GMB / Casino Review
