• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

No plans for Boracay land once tagged for casino: LRWC

Dec 10, 2019 Newsdesk Latest News, Philippines, Top of the deck  


No plans for Boracay land once tagged for casino: LRWC

Leisure and Resorts World Corp (LRWC) says it has “no plans” for development of a land plot on the Philippine holiday island of Boracay (pictured in a file photo). The 23-hectare (57-acre) parcel was previously earmarked for a US$500-million casino investment.

The clarification was included in a filing on Tuesday to the Philippine Stock Exchange. It followed media reports quoting the firm’s acting chairman, Eusebio Tanco, as saying the company was abandoning plans to develop a casino resort on Boracay. The scheme was to be developed in partnership with Macau-based casino operator Galaxy Entertainment Group Ltd.

LRWC stated in the filing that the comments by Mr Tanco were “only referring to the fact that due to the moratorium imposed by President Rodrigo Duterte, there is no further discussions on the Boracay project with Galaxy Entertainment.”

The moratorium was a reference to a pause imposed by the country’s leader, President Duterte, on new casino projects in the Philippines. According to previous official announcements, the moratorium dated from January 2018, although a number of new projects was subsequently mentioned by the country’s casino regulator. That was said to be on the basis the promoters of those schemes had permission in principle from the regulator prior to that date.

LRWC’s Tuesday filing added: “We remain committed to abide by the instructions of our President [Duterte] and will defer to his mandate on the matter.”

Hong Kong-listed Galaxy Entertainment announced in December 2017 the Boracay project, in partnership with LRWC. The latter company has interests in the land-based and online gambling sectors in the Philippines.

Galaxy Entertainment said in March last year that the country’s casino regulator, the Philippine Amusement and Gaming Corp (Pagcor), had given it a provisional gaming licence. On the following month, the Philippine government however said it had shelved the Boracay casino scheme, following stated opposition from President Duterte.

GGRAsia has approached Galaxy Entertainment seeking comment on the latest situation regarding its partnership with LRWC for a Boracay integrated resort.

In its Tuesday filing, LRWC stated that “no plans have been made for the development of the land in Boracay” in any alternative format.

“But since LRWC is confident that the price of the properties in Boracay will continue to appreciate with the recent positive actions taken by President Rodrigo Duterte to revitalise and clean up Boracay, our chairman believes land banking the properties will still create value for LRWC,” the firm added.

The Philippine authorities closed Boracay to tourists for six months in 2018 on Mr Duterte’s orders, apparently to clean up the island. Issues reportedly addressed included heavy pollution by sewage.


  • tweet
Related articles
  • Chau, other defendants ordered to pay US$1.1bln: court
    Chau, other defendants ordered to pay...

    Jan 18, 2023  

  • Galaxy Macau’s new arena to host K-pop group Blackpink
    Galaxy Macau’s new arena to host...

    Jan 09, 2023  

More news
  • Available Macau casino tables busy at tail of CNY hols
    Available Macau casino tables busy at...

    Jan 27, 2023  

  • Macau economy to see double-digit growth in 2023: AMCM
    Macau economy to see double-digit...

    Jan 27, 2023  


Latest News

Available Macau casino tables busy at tail of CNY hols

Available Macau casino tables busy at tail of CNY hols

Jan 27, 2023  

Some Macau casinos visited by GGRAsia on Thursday, actually had tables that were closed, notwithstanding strong consumer demand during Chinese New Year (CNY). The reasons for some tables being...
Read More
Macau economy to see double-digit growth in 2023: AMCM

Macau economy to see double-digit growth in 2023: AMCM

Jan 27, 2023  

Macau, APAC early gainers in China tourist return says Fitch

Macau, APAC early gainers in China tourist return says

Jan 27, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


384,600

Aggregate number of visitors to Macau during the first six days of the Chinese New Year holiday break



Most Popular

  • Available Macau casino tables busy at tail of CNY holsAvailable Macau casino tables busy at tail of CNY hols January 27, 2023
  • G2E Asia in-person for Macau in 2023, first time since 2019G2E Asia in-person for Macau in 2023, first time since 2019 January 27, 2023
  • Nearly 70k visitors to Macau on 6th day of CNY breakNearly 70k visitors to Macau on 6th day of CNY break January 27, 2023
  • 71pct of Sands China licence spend for venues says parent71pct of Sands China licence spend for venues says parent January 26, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us