Posted on: October 16, 2023, 11:54h.
Last updated on: October 16, 2023, 11:54h.
Galaxy Entertainment Confirms No Interest in Boracay Casino Resort
Galaxy Entertainment Group has shut down rumors that it will reconsider building a casino resort on Boracay Island in the Philippines. The company stated that its current focus is on its operations in Macau and the construction of additional phases at the Galaxy Macau resort.
Galaxy Entertainment Group wishes to confirm that contrary to some recent media reports Galaxy is not considering reentering Boracay of Philippines to develop a resort,” an investor relations notice explained. “Our recent focus is on the full reopening of Macau, ramping up our recently launched [Galaxy Macau] Phase 3, and the construction of [Galaxy Macau] Phase 4.”
Galaxy Entertainment is one of the leading casino operators in Macau and has chosen to focus its efforts on its properties there, rather than pursuing opportunities in Boracay.
The History of Boracay and Galaxy’s Involvement
In 2017, Galaxy Entertainment partnered with Leisure & Resorts World Corp. to explore the possibility of building a $550 million casino resort on Boracay. However, these plans were put on hold when the Philippine government ordered the island to undergo a six-month cleanup and halted all casino development.
Former Philippine President Rodrigo Duterte, who referred to Boracay as a “cesspool,” made the decision to close the island and prevent the construction of a casino. He stated that the wishes of the island’s residents, who expressed their opposition to a casino, would be respected.
You know the billionaires? They want to build casinos there. I did not allow it,” he later said in a seeming reference to Galaxy billionaire Lui Che Woo.
Duterte had a complicated relationship with the gambling industry in the Philippines, initially opposing it but later recognizing its economic benefits.
Galaxy Entertainment’s Operations
Galaxy Entertainment primarily operates in Macau, where it owns and operates three integrated casino resorts. The company also has a stake in a French casino and hospitality firm, Monte Carlo SBM, which oversees iconic properties in Monaco and manages luxury hotels and restaurants in France.