MANILA, Philippines — As Malacañang stands pat on its order to ban casinos in the world-famous Boracay Island, the state-run gaming regulator Philippine Amusement and Gaming Corp. (Pagcor) justified yesterday its granting of a license to Macau casino giant Galaxy Entertainment Group (GEG) and its Filipino partner Leisure and Resorts World Corp.
Pagcor stressed that the license is only provisional.
At the same time, Malacañang said yesterday that the casino could be set up elsewhere in the country.
“The provisional license is only the start of a very long and tedious process of compliance that every integrated-resort operator must go through before they can be issued by Pagcor a Notice to Commence Casino Operations and eventually, a regular casino gaming license,” Pagcor said in a statement.
GEG will be in charge of the development and operation of the Boracay Philippines Resort and Leisure Corp. (BPRLC).
“Pagcor, being a government entity under the Office of the President, abides by the laws and orders of the land,” the agency said.
“As regulator, it ensures that its licensees comply with pertinent laws, rules, regulations and ordinances promulgated by authorities relative to the establishment and operation of casinos,” it added.
“BPRLC’s application was favorably considered since Boracay falls under the Greenfield zone category, which refers to an area within rural provinces, cities or municipalities with high potential for tourism development with no existing casino,” Pagcor said.
It said the provisional gaming license granted to BPRLC was issued after it met all initial documentary requirements, including a certificate of no objection and a minimum investment commitment of not less than $300 million. - Mary Grace Padin