Macau’s Galaxy Group pushing through with Boracay casino resort construction
Iris Gonzales (The Philippine Star) - March 20, 2018 - 12:00am

MANILA, Philippines — Macau-based Galaxy Entertainment Group expects to commence construction of its planned casino resort in Boracay as soon as it gets its provisional license from the Philippine Amusement and Gaming Corp. (Pagcor) by the end of the month, its local partner said.

Galaxy has partnered with Leisure and Resorts World Corp., the listed gaming company founded by Negros Occidental Rep. Alfredo “Albee” Benitez.

The construction will push through despite the impending closure of the island for one year, a popular tourism destination. Authorities have ordered the closure of Boracay on the back of various violations of environmental laws of the different businesses operating in the island.

LRWC said the planned resort would rise on a 23-hectare land in Barangay Manoc-Manoc, Boracay Island, Malay, Aklan.

“Consistent with the pronouncement of Pagcor chairperson Andrea Domingo, it is expected that Pagcor will issue a provisional license to Galaxy Entertainment Group (GEG) before the end of this month. Upon the issuance of the said license through the partnership between LRWC and GEG an Integrated Resort will be constructed in the said property,” LRWC said yesterday.

“We are signing the contract for their provisional license before the end of the month,” Domingo said.

The STAR earlier broke the story that Galaxy Entertainment Group, the world famous Macau-based casino operator, is entering the country for the first time, through a partnership with LRWC.

Officials from both companies have confirmed the plan and executives from LRWC and Galaxy paid a courtesy call to President Duterte last year to discuss the project. The team from Galaxy was headed by its chairman Lui Che-woo and vice chairman Francis Lui Yiu Tung.

The entry of Galaxy in the country comes on the back of improving relations between the Philippines and China following President Duterte’s visit to Beijing last year.

Tung said that with this improving China-Philippines relations, Galaxy and and its mother company K Wah Group hope to play a role in the One Belt One Road initiative and wish to explore the great potential and attractive business opportunities in the Philippines.

LRWC is a holding firm with interests in property development focusing on leisure business, gaming and recreation. At present, it owns bingo parlors all over the Philippines and has an existing license agreement with the Cagayan Economic Zone Authority to develop, operate and conduct internet and gaming enterprises and facilities in the Cagayan Special Economic Zone Freeport.

In Macau, Galaxy first opened in 2011 at the Cotai Strip, a 550,000 square meter resort with Las Vegas-style facilities such as the world’s largest sky wave pool, a white sandy beach, and dozens of private villas and cabanas.

BORACAY PHILIPPINE AMUSEMENT AND GAMING CORP.
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