No talks yet with Galaxy on Boracay casino: LRWC

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Philippines-based diversified gaming company Leisure and Resorts World Corp (LRWC) says there have been no discussions yet with its former partner, Macaus Galaxy Entertainment Group, over resurrecting plans to develop a casino-resort on Boracay.

However the company remains committed to the project and hopes to resume talks soon, it said.

The update comes after Philippines news outlet GMA News Online reported that LRWC director Alfredo Abelardo Benitez had confirmed to them his intention to restart talks with Galaxy after the project was halted in 2018 by President Rodrigo Duterte.

Duterte last week lifted the moratorium he had placed at the time on new casino developments in Boracay, citing a need for the Philippines to finds new revenue sources due to the financial impact of the COVID-19 pandemic.

On Thursday, LRWC filed a clarification of its Boracay status with the Philippines Stock Exchange in response to the GMA News Online report.

We would like to clarify that the company has yet to talk to our partner, Galaxy, it said. The Company is looking forward to the resumption of the discussions with Galaxy in view of the Presidents go-signal for casino operation in Boracay.

IAG has contacted Galaxy for comment.

As previously reported by IAG, the Philippines has launched a range of initiatives to generate additional funding during COVID, including the introduction pf a PIGO scheme under which licensed casino operators can offer online gaming services to registered customers. Some licensed sportsbooks have also beenallowed to offer their services onlinefor the first time.