Macau concessionaire Galaxy Entertainment Group has stated it has no plans to revisit a potential integrated resort development on the Philippines island of Boracay, despite calls by its former project partner to do so.
“Galaxy Entertainment Group wishes to confirm that contrary to some recent media reports, GEG is not considering re-entering Boracay of Philippines to develop a resort,” the company said by way of a statement on Monday.
“Our recent focus is on the full reopening of Macau, ramping up our recently launched Phase 3 and the construction of Phase 4.”
The statement follows a report by the Philippine Daily Inquirer in which the founder of DigiPlus Interactive Corp, formerly known as Leisure & Resorts World Corp, pleaded with GEG to come back to the negotiating table.
The two companies had in 2018 announced plans to jointly develop a US$550 million integrated resort on Boracay and were even granted a provisional license from PAGCOR, however those plans were scuppered when then-Philippines President Rodrigo Duterte placed a moratorium on new casino developments on the island. Duterte lifted the moratorium in August 2021.
According to this week’s comments from DigiPlus founder and Bacolod City Mayor Alfredo Abelardo “Albee” Benitez, the company is gauging the “comfort level” of GEG to reignite discussions, stating, “That is exactly what we are asking: what will it take for you to come back in again?”
He also noted that there was no need to start afresh given that much of the preliminary work was completed back in 2018.
“In fact, all the plans and designs are already finished,” he said. “It is already in the international map, international radar speed.”
While GEG did not outline its reasons for ruling out a return, other than its desire to focus on Macau, IAG believes the company harbors concerns that history may repeat itself after the previous Duterte government shut Boracay down to all tourism for six months in 2018 on environmental concerns. IAG also believes GEG would most likely require certain assurances from the local government that it would not impose limits on tourist numbers, as has been touted in the past.
RelatedPosts
