The planned Boracay resort to be developed through the partnership between Macau’s Galaxy Entertainment Group and Leisure and Resorts World Corp. is not a ‘mega casino’ as detractors claim, but a top leisure destination in Boracay targeting Asian families.
LRWC said in a statement the integrated resort would redefine the standards of luxury resorts in the country with the bulk of its gross floor area allocated for premium hotel rooms and other amenities like wellness centers, bars, lounges and fine dining restaurants.
GEG and local partner LRWC received a provisional gaming license to operate Boracay Philippines Resort and Leisure Corp., a $550-million integrated resort development in the popular tourist destination.
Based on the resort’s conceptual design, the casino and gaming area’s maximum footprint will not exceed 7.5 percent of the total floor area of the resort “at all times”.
“Thus, the planned Boracay Resort is expected to churn more revenues from the hotel and other ancillary businesses vis-a-vis the gaming segment as it attracts customers all over the region looking for luxury Asian destinations,” LRWC vice president for legal Katrina Nepomuceno said.
She said GEG and LRWC were expected to leverage on Galaxy’s database of clients across the region and the rest of Asia. She said they were targeting families and clients from Galaxy’s loyalty program to contribute approximately 50 percent of the customers, while other travelers to Boracay”•Chinese tourists in particular”•would account for the other half.
LRWC said to minimize the resort’s impact and preserve the area’s natural beauty, the property would be constructed following the contours of the site with lots of open spaces and lush landscaping.
The resort will be designed to provide ample space for all the comforts, luxuries and activities for each family member, it said.
Philippine Amusement and Gaming Corp. chair and chief executive Andrea Domingo and project proponents signed the contract for the license on Wednesday, to jumpstart the process of securing all necessary permits and clearances prior to construction.
Based on the project’s timetable, construction would take at least three years with operations expected to commence sas early as 2021, Nepomuceno said.