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Reports from local media suggest that construction on the new casino resort in Boracay will commence in early Galaxy Entertainment has revealed in a recent press release that they have already been granted a provisional gaming license by the national gaming regulator — Philippine Amusement and Gaming Corp PAGCOR.
The operator also states that they have signed an agreement with a local partner which has been named as Leisure and Resorts World Corp.
The domestic partner is the owner of the 23 hectare beachfront site for the casino resort. Galaxy Boracay is expected to be completed within a three year timeline and will create thousands of part time constructions jobs and hundreds of full time jobs once the casino is fully operational.
What excited us, one of the reasons, has to be the new airport which has been built last year, giving direct access to international market to bring in some high-end customers.
Leisure and Resorts World Corp will not just get a share of the gaming revenue from the property but will also get lease payments from Galaxy Entertainment Group.
They have a similar business model as Belle Corp , who own the land where City of Dreams Manila stands. They lease out the property to a branch of Melco Resorts and Entertainment Ltd who operates the casino resort.
There were a number of concerns and opposition to setting up a new casino resort in Boracay — which is one of the most popular tourist destinations in the Philippines.
Galaxy operates three flagship destinations in Macau: LRWC shares surged by The company has a market capitalization of around P7.
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