Leisure and Resorts World Corp confirms plans to reignite talks with Galaxy over Boracay casino

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Philippines-based diversified gaming company Leisure and Resorts World Corp (LRWC) has confirmed its intention to revive discussions with Macaus Galaxy Entertainment Group over a previously planned casino resort in Boracay.

The two companies had announced their intention to develop the US$550 million project in 2018 and were granted a provisional license from PAGCOR, however those plans were scuppered when President Rodrigo Duterte placed a moratorium on new casino developments on the island.

Duterte lifted that moratorium last week with the COVID-19 crisis forcing the Philippines to seek new sources of funding.

According to a report from the Philippines GMA News Online, LRWC director Alfredo Abelardo Benitez confirmed this week the companys intention to resume talks with Galaxy, although he did not provide any further details.

Presidential Spokesman Harry Roque first announced the governments change of tune last Saturday, stating, The President has given his go-signal allowing the operation of a casino in Boracay. Prior to this directive, casino establishments have not been operating in the island.

Casino operation in Boracay shall follow restrictions such as the observance of safety and health protocols imposed in view of the current Covid-19 pandemic and ensuring safeguards to keep children or minors away from gambling activities.

The Philippines also introduced a PIGO scheme late last year under which licensed casino operators can offer online gaming services to registered customers, while some licensed sportsbooks have now been allowed to offer their services online for the first time too.