MANILA, Philippines — Billionaire Andrew Tan will open a casino in Boracay, the Philippine Amusement and Gaming Corp. (Pagcor) said yesterday.
Pagcor chair and CEO Andrea Domingo said that aside from Galaxy Entertainment Group, the gaming regulator has already approved the license of Tan’s planned casino in his Savoy Hotel in Boracay.
“The application for that started in 2014 and it has already been approved. They have built the hotel already,” Domingo told reporters on the sidelines of the Asean Gaming Summit yesterday.
Megaworld Corp. launched the 559-room Savoy Hotel last year, its third homegrown hotel brand in Boracay Newcoast.
Macau-based Galaxy Entertainment, meanwhile, is building a $550 million gaming resort in the island with its partner, LRWC, the listed gaming company founded by Negros Occidental Rep. Alfredo “Albee” Benitez.
Domingo said after the two casinos, no additional gaming resorts would be allowed on the island especially after President Duterte ordered a moratorium on the issuance of new land-based casino licenses.
She also expressed optimism that the two proponents would be compliant with environmental laws given their huge investments.
Boracay, which attracted roughly two million tourists last year, is under intense government scrutiny because of environmental issues.
President Duterte has ordered a temporary closure of the island.
Domingo said the closure, which will be for a period of six months to one year, would not affect Galaxy Group’s plan.
Domingo said Galaxy Entertainment would secure its provisional license from Pagcor today (March 21).