MANILA, Philippines — Macau-based Galaxy Entertainment Group (GEG) has not abandoned its plan to build an integrated resort in Boracay, its local partner and gaming regulators said yesterday.
Philippine Amusement and Gaming Corp. (Pagcor) chairman and CEO Andrea Domingo said she has not received any information on any changes in GEG’s plan.
“Galaxy has not informed Pagcor or me regarding this,” Domingo said in a text message.
Domingo was reacting to a statement made by Interior and Local Government Assistant Secretary Epimaco Densing that Galaxy has “abandoned” its planned Boracay project.
Publicly-listed Leisure and Resorts World Corp. (LRWC), for its part, said it continues to be in talks with its partner GEG regarding the Boracay project.
“Both parties have not reached any final decision regarding its planned Boracay resort project. Following protocol, no change in plans or project location would be made without prior consultation and agreement with Pagcor,” LRWC said in a statement.
GEG partnered with LRWC to build a $500-million integrated resort in Boracay dubbed as Boracay Philippines Resort & Leisure Corp. The project is now in the middle of controversy following President Duterte’s order to shut down the popular tourist destination for six months starting April 26.
Boracay Philippines Resort & Leisure Corp. is targeting Asian families and clients from GEG’s loyalty program to account for approximately 50 percent of their customers. The rest of the market will come from the usual travellers to Boracay, including Chinese tourists.
GEG is touted as one of the biggest gaming companies in Asia with a wide network of clients including affluent Asian families.
LRWC and GEG said the integrated resort would redefine the standards of luxury resorts not only in Boracay but also in the country and that bulk of its gross floor area would be allocated for premium hotel rooms and other amenities like wellness centers, bars, lounges and fine dining restaurants.
They have also committed to work with the a Department of Environment and Natural Resource to ensure full compliance with the laws in Boracay.
Pagcor has already issued to GEG and LRWC the provisional license to proceed with the project after securing a letter of no objection from the local government.
But Boracay Philippines Resort would still have to comply with a lot of requirements to be able to get a full license, Pagcor’s Domingo said.
Domingo said the casino and gaming area’s maximum footprint would not exceed 7.5 percent of the resort’s floor area.