Mon | Mar. 26, 2018 | 4:10 PM

The Philippine Amusement and Gaming Corporation (PAGCOR) has granted the Galaxy Entertainment Group (GEG) and its local partner, the Leisure and Resorts World Corp. (LRWC) a provisional license which will pave the way for the construction of a US$500 million Integrated Resort and Casino in Boracay.

GEG is one of the world’s biggest and leading resort, hospitality and gaming companies which develops and operates integrated resort, retail, dining, hotel and gaming facilities in Macau. It operates the Galaxy Macau on Cotai, Broadway Macau and Starworld Macau.

LRWC is a leisure and gaming company in the Philippines whose services include management and operation of general amusement, recreation enterprises, hotel and gaming facilities.

The 23-hectare low-rise Integrated Resort and Casino project, which will be located in the less developed southeastern corner of the island, will feature “private deluxe hotel rooms and villas, a wellness center, bars and lounges, fine dining restaurants and casino gaming area set in a lush tropical surrounding.”

According to PAGCOR Chairman and CEO Andrea Domingo, GEG and LRWC have secured a Letter of No Objection from the local government, which is one of the requirements for the grant of provisional license. Further, GEG and LRWC have to comply with all the environmental regulations in connection with the construction.

“This integrated resort and casino project will be built on the part of Boracay where there are no buildings yet; not on the very congested part of the island. What we granted was just a provisional license. GEG and LRWC must comply with all environmental regulations because we are going to be very strict. We have lawyers and engineers to check on their compliance from time to time,” she clarified.

The PAGCOR chief likewise explained that GEG and LRWC’s license application was filed and processed prior to President Rodrigo Duterte’s moratorium on the grant of gaming licenses for Integrated Resort and Casinos last January 13, 2018.

GEG’s Vice Chairman Francis Lui meanwhile expressed GEG’s commitment to put up a world class Integrated Resort and Casino in Boracay. “We have been looking for strategic locations where we can expand our brand and Boracay is an excellent choice for our international expansion,” he said.

Lui added that through the project, they will be able to contribute positively to the local economy. “We will raise the bar in both resort quality and service and generate significant job opportunities in construction and resort operations. We also reiterate our commitment to develop in a sustainable and respectable manner,” he added.

With regard to Boracay’s environmental concerns, GEG’s local partner LRWC stated that they shall ensure that the Integrated Resort and Casino project will help maintain the natural beauty of the island. “We shall work hand-in-hand with the local and national officials, regulatory agencies and the entire Boracay community for a well managed and sustainable development of Boracay so it may be enjoyed by all for all generations to come,” LRWC Chairman Reynaldo Bantug said in a statement.

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