Leisure and Resorts World Corp (LRWC), a Philippines-based integrated resort developer, said it was looking forward to the resumption of talks with Galaxy Entertainment over plans to build a casino resort on Boracay after the Philippine President Rodrigo Duterte lifted the moratorium on new casino developments on the resort island.
The gaming company added that it remained committed to the Boracay project and hoped to restart discussions with Galaxy soon.
Allin Media contacted Galaxy to ask for comments on the Boracay project, but had not received any reply by the time this story went online.
Galaxy Entertainment announced plans to develop a US$500 million casino with LRWC on Boracay in December 2017. At that time, the casino was designed to cater for foreigners, junket operators and high-rollers. But the joint venture was halted in 2018 by a casino moratorium imposed by President Rodrigo Duterte to avoid gaming oversupply on the resort island.
Duterte lifted the moratorium last week, citing a need for the Philippines to find new revenue sources due to the financial impact of the Covid-19 pandemic.