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2 Casino Resorts To Rise On Boracay VideoThe World Tonight: PAGCOR approves provisional license for casino in Boracay
Earlier, the Department of Environment and Natural Resources DENR has launched a crackdown on illegal structures on the island and those without property sewerage systems.
Megaworld gains as firms migrate to bustling Fort Boni. Why do Muslim women wear a hijab? US judge says execution can proceed without imam present.
Leisure and Resorts World Corp will not just get a share of the gaming revenue from the property but will also get lease payments from Galaxy Entertainment Group.
They have a similar business model as Belle Corp , who own the land where City of Dreams Manila stands. They lease out the property to a branch of Melco Resorts and Entertainment Ltd who operates the casino resort.
There were a number of concerns and opposition to setting up a new casino resort in Boracay — which is one of the most popular tourist destinations in the Philippines.
Opposition parties objected to the casino resort stating that it would disturb the eco-friendly environment.
However both Leisure and Resorts World Corp and Galaxy Entertainment have stated that they will respect the environment in setting up the new Galaxy Boracay casino.
Galaxy has stated that the plan is to develop a low-rise resort that develops the land around the beachfront, with an aim towards being eco-friendly.
The casino resort is also expected to further boost tourism in Boracay and generate significant revenue in gaming taxes for the local government.
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