March 20, 2018 / 5:27 AM / in a month

Philippines set to issue license to Galaxy's $500 million casino resort

MANILA (Reuters) - Macau casino operator Galaxy Entertainment Group Ltd is set to bag a license for its up to $500 million-integrated casino-resort project in central Philippines, Manila’s gaming regulator said on Tuesday.

Galaxy’s casino project in Boracay, the Philippines’ most famous holiday island, will push through despite the potential one-year closure of the tourist spot for clean-up, Andrea Domingo, chairman, Philippine Amusement and Gaming Corp (Pagcor), said at a gaming conference.

Gaming regulator Pagcor on Wednesday will sign and issue a provisional license for Galaxy and its local partner Leisure and Resorts World Corp, Domingo said.

Leisure and Resorts World had acquired a 23-hectare slot in Boracay for the casino project.

The Philippines’ tourism, interior and environment ministers last week recommended the closure of Boracay, which President Rodrigo Duterte called a “cesspool”, for up to one year.

Boracay, famous for its white sand beaches and vibrant night life, welcomed more than two million domestic and foreign tourists last year.

Reporting by Neil Jerome Morales, Editing by Sherry Jacob-Phillips

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