Galaxy Entertainment Group’s Philippines partner, Leisure and Resorts World Corp (LRWC), says it has received no official word from local gaming regulator PAGCOR regarding a request from the Boracay Inter-Agency Task Force (BIATF) to cancel the licenses of all casino operators on the resort island.
A PAGCOR spokesman revealed on Tuesday that the regulator had already suspended a license previously issued to Galaxy and LRWC, who had planned to build a US$500 million integrated resort on a plot of land purchased by LRWC earlier this year. Those plans were subsequently thrown into doubt after Philippines President Rodrigo Duterte stated his opposition to the opening of any Boracay casinos and shut down the island to tourists for six months due to pollution.
Boracay re-opened last week but any hopes the Galaxy-LRWC team had of upping the ante on its IR push were quickly quashed with PAGCOR’s comments this week.
Nevertheless, in response to inquiries by the Philippine Stock Exchange this week, LRWC said it had received no contact by PAGCOR officials over suspension of its provisional gaming license.
“On the matter pertaining to [reports], other than what is stated in the quoted news articles, we have not received any further information,” LRWC said.
Inside Asian Gaming also tried to contact representatives of Galaxy on Wednesday but received no response.
Aside from Galaxy, the cancellation of all existing and future casino operations in Boracay affects five other operations including Hotel Soffia and Megaworld Corp’s Savoy Hotel, while those already operating include Movenpick Resort & Spa, Crown Regency Resort and Convention Center and Paradise Garden Resort Hotel and Convention Center.
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