Galaxy Entertainment Group Ltd, to acquire a license for its US$500 million-integrated casino-resort project
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Philippine Amusement and Gaming Corp announced today that Galaxy Entertainment Group Ltd, one of Asia’s leading developers and operators of integrated entertainment and resort facilities and Macau casino operator is all set to acquire a license for its US$500 million-integrated casino-resort project in the central Philippines.
Andrea Domingo, the Chairman of Pagcor, said at a gaming conference that the casino project in Boracay will navigate through, though there was a potential closure of one year of the tourist destination for a clean-up.
Pagcor is anticipated to sign and issue a provisional license for Galaxy and its local partner Leisure and Resorts World Corp on Wednesday, March 21st.
The company had acquired a 23-hectare slot in Boracay for the casino-hotel project. Boracay has welcomed more than two million domestic and international tourists in 2017. Philippines’ tourism, interior and environment ministers last week recommended the shut down of Boracay for a massive clean-up, therefore it is expected that the construction of the resort will take longer than planned.
Domingo said that President Rodrigo Duterte met with Galaxy executives and asked them to protect the environment and shun corruption.
Source: European Gaming Industry News