Galaxy Entertainment Group’s Philippines partner, Leisure and Resorts World Corp (LRWC), is still buying land in Boracay despite recent claims by President Rodrigo Duterte that no new casinos would be built on the holiday island.
According to a report by The Philippine Star, Municipal Executive Assistant for Boracay Affairs, Rowen Aguirre, has revealed that LRWC is not content with the 23 hectares it previously acquired for its US$500 million integrated resort, stating, “I’ve heard that they’re still in negotiations with several other property owners for additional acquisition.”
Aguirre also reiterated an earlier claim by gaming regulator PAGCOR that Galaxy-LRWC were granted a provisional license for development of their IR after receiving a Letter of No Objection from local authorities. Aguirre said there was no objection because the 23-hectare site, located in Barangay Manoc-Manoc, was in an underdeveloped area.
The Philippines’ Department of Tourism last week stated that Galaxy was seeking a new venue for its IR but has since retracted that statement.
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