Macau (MNA) – Casino operator Galaxy Entertainment Group (GEG) Limited announced on Friday that it is moving forward with its plans to develop a casino resort on the island of Boracay in the Philippines.
Galaxy is partnering Philippines-based Leisure & Resorts World Corp. (LRWC) to develop a casino project with an investment estimated at some US$300 million to US$500 million, according to the chairman of the Philippine Amusement and Gaming Corporation (PAGCOR) Andrea Domingo, as cited by Bloomberg.
Ms. Domingo confirmed on Thursday that the companies are already applying for a licence.
The Deputy Chairman of GEG, Francis Lu Yiu Tung, was quoted as saying in the company release that “Galaxy is excited about the possibility of teaming with LRWC to develop a world class beach resort for our players in Boracay.”
Galaxy also announced that the company and its Philippines partner had met Philippines President, Rodrigo Duterte on Wednesday ‘to explore potential business opportunities’ in the country.
In addition to GEG’s deputy chairman, chairman Lui Che Woo, and the president of the company, Michael Mecca, were among GEG officials who paid a courtesy call on President Duterte, Philippines News Agency reported.
