Macau (MNA) – Galaxy Entertainment Group Ltd. (GEG) is to receive a provisional licence for starting the development of its US$500 million casino on the island of Boracay in the Philippines this month.
According to GMA News, the chairperson of the Philippines Amusement and Gaming Corporation (PAGCOR), Andrea Domingo, confirmed the information on Friday. “We are signing the contract for their provisional licence before the end of the month,” Ms. Domingo was quoted as saying by the Filipino media.
As at December 2017, local gaming operator and Philippines’ partner Leisure and Resorts World Corp. was seeking regulatory approval for the casino-resort in Boracay.
PAGCOR’s chairperson confirmed that the plans were moving ahead despite a recent recommendation from the Philippines’ Departments of Environment and Natural Resources, Interior and Local Government, as well as Tourism to close Boracay for a period of up to a year to enable the rehabilitation of the island.
Domingo clarified that the companies were not concerned about the impending closure of Boracay, saying that “they have to build. Opening is at least after three years.”
The PAGCOR head also said that the recent moratorium on the entry and creation of new casinos to prevent oversupply ordered by Philippines President Rodrigo Duterte did not apply to GEG and its partner, given that they had met all requirements before the President announced the ban.
