Leisure Resorts has abandoned its plans for a casino in Boracay. Read below latest casino news and strategies.
Philippine casino content developer Leisure Resorts & World Corp. has abandoned its plans to develop an integrated casino resort on Boracay. The company’s plans totaled $ 550 million in partnership with Macau-based casino gaming operator Galaxy Entertainment Group.
Leisure Resorts Chairman-in-Office Eusebio Tanco made the announcement ahead of time that the company was suspending permission to build a casino resort on a stretch of land in Boracay, which was previously purchased. Tanco also added that they are no longer in talks with Galaxy Entertainment Group to develop a resort and casino hotel, among other amenities.
Boracay Island is one of the most important and visited tourist destinations in the Philippines. Leisure Resorts and Galaxy have announced their partnership for the first time and plan to build a resort on the island at the end of 2017. In the spring of 2018, Galaxy received a conditional gaming license from PAGCOR, the Philippine gambling regulator. However, as Galaxy and its local partner were preparing to begin construction, Philippine President Rodrigo Duterte issued an order to close Boracay to clean the environment. The president’s order was prompted by an environmental review of the island, which blasted businesses operating in Boracay due to unauthorized development activities and the lack of a proper sewer system, and there were also many other problems. Thus, Boracay was closed in April 2018 for a full 6 months to clean the environment. During this period, there was no tourist activity on the island and the losses of many companies were large.
In addition to cleaning the environment, part of the Leisure Resorts casino and the Galaxy project has attracted the ire of President Duterte, who is well known for his negative stance on gambling issues. In April 2018, President Duterte said there would be no new casinos in Boracay after the island reopened in the fall of 2018, and specifically stated that the Leisure Resorts & World Corp and Galaxy Entertainment Group project would not be completed .
In the summer there were reports that the ban on new casinos could be partially lifted, but this has not happened so far. At the same time, Leisure Resorts plans to focus on expanding its core business with the company offering bingo halls across the country. Follow our page for more related online casino news and bonuses.