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Manila Bulletin devider devider Pagcor denies Boracay casino project cancellation

Pagcor denies Boracay casino project cancellation

Published Apr 18, 2018 12:00 am
By Chino S. Leyco State-run Philippine Amusement and Gaming Corp. (Pagcor) said that it has no information about Galaxy Entertainment Group’s (GEG) reported plan to abandon its proposed integrated resort in Boracay. Pagcor Chairperson Andrea D. Domingo denied that GEG has notified the gaming regulator about any change in plan for the $500-million integrated resort, which will be built in Boracay, one of the country’s premier tourist designations. “I have no information about that… Galaxy has not informed Pagcor or me regarding this,” Domingo said. Likewise, listed-firm Leisure and Resorts World Corp. (LRWC), the local partner of GEG, denied the report, saying they continue to be in talks with its Macau-based parter 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. LRWC’s statement came in the wake of several media reports quoting Interior and Local Government Assistant Secretary Epimaco Densing, stating that Galaxy has "abandoned" its Boracay project. In a briefing last Tuesday, Densing made an announcement, quoting Tourism Assistant Secretary Ricky Alegre that GEG would abandon its Boracay project. However, Alegre clarified that he was merely asked if such a report was true and that if it were, it would be a welcome development. He also said that the Department of Tourism has not received any official communication from GEG and LRWC about their plans. GEG partnered with LRWC to build an integrated resort in Boracay and have committed to work with the Department of Environment and Natural Resources to ensure full compliance with environmental laws and regulations. The project, known as Boracay Philippines Resort & Leisure Corp., is targeting 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. Last month, Pagcor 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 Domingo said proponents would still have to comply with a lot of requirements to be able to get a full license. LRWC has assured that they would comply with all the requirements and that the resort would preserve Boracay’s natural beauty by constructing the property in such a a way that the contours of the site will be followed. Based on the project's conceptual design, the casino and gaming area's maximum footprint would not exceed 7.5 percent of the resort's floor area "at all times." Furthermore, project proponents said the integrated resort would redefine the standards of luxury resorts in the country and that bulk of its gross floor area will be allocated for premium hotel rooms and other amenities like wellness centers, bars, lounges and fine dining restaurants.
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