There’s no stopping Galaxy Entertainment Group (GEG) from constructing a $500 million integrated resort at the heart of the Philippine island oasis of Boracay, not even the island’s impending closure.
In a disclosure to the Philippine Stock Exchange, GEG’s local partner Leisure and Resorts World Corp (LRWC) said it would proceed with its plan to build a $500 million integrated resort in Boracay despite the impending closure of the island.
LWRC announced it already purchased 23 hectares of land in Boracay as the two gambling operators anticipate Philippine Amusement and Gaming Corporation’s (PAGCOR) issuance of a casino license.
“Upon the issuance of the said license through the partnership between LRWC and GEG an Integrated Resort will be constructed in the said property,” LWRC said in a statement.