Inside Asian Gaming

APRIL 2018 INSIDE ASIAN GAMING 11 Galaxy Entertainment Group (GEG) and its Philippines partner Leisure & Resorts World Corporation have been granted a provisional gaming license by gaming regulator PAGCOR for their US$500 million integrated resort on the tourist island of Boracay. “We would like to thank PAGCOR for their vote of confidence in granting GEG a provisional gaming license in the Philippines to strategically expand our brand into overseas markets,” said GEG Vice Chairman Francis Lui. “We are very excited about the prospect of investing up to US$500 million into a proposed premium quality, low rise, eco-friendly resort development located in Boracay, the world’s premier beach destination. “We are pleased to support President Duterte and the Philippine government’s initiative for the managed and sustainable development of Boracay. Galaxy gains license approval for US$500 million Boracay IR Cambodia to rival Philippines as Asia’s iGaming capital Cambodia has the potential to rival the Philippines as Asia’s iGaming capital within the next few years, according to a senior executive at one of the country’s most prominent border casinos. Rhys Jones, Managing Director of Ha Tien Vegas located in Cambodia’s southeastern corner on the Vietnamese border, told Inside Asian Gaming that supportive government policy, the threat posed to border properties by possible liberalization of casino gaming in Vietnam and Thailand and uncertainty surrounding online regulations in the Philippines could see Cambodia become a much more attractive option for iGaming operators than their traditional Asian home. “For a long time gaming has been viewed as a boon to the economy on the borders, which really struggle for employment,” Jones said. “There are 140 casino licenses placed on the borders with Vietnam and Thailand and the government sees that as bringing revenue into the country from overseas. “But now Cambodia is under threat in terms of the legalization of gaming in Vietnam and there is also the potential in Thailand, which is definitely a possibility. Should that evolve we’re talking about up to 200,000 jobs. There are a lot of people involved – not just in the casinos but in service and supply – so there is a big threat there and the obvious replacement for those jobs and the income they provide is to encourage online investment, because if these land- based casinos dry up in terms of footfall patronage they are going to close.” Jones pointed out that of the 184 casino licenses currently issued in Cambodia, around 100 have been issued within the past 18 months with most new casinos now providing some sort of online gaming service. “I don’t know how many of those 184 licenses have online gaming but I guarantee every single new one will have online because it makes no sense not to. There is very little difference in cost and then you’re covered.” Further, we will contribute positively to the local economy and actively partner with the Boracay community. “We are confident that we will raise the bar in both resort quality and service and generate significant jobs in both construction and resort operations. This exciting project also clearly demonstrates GEG’s commitment to support China’s One Belt, One Road initiative.”