Genting plans Boracay development

Malaysia’s Genting Group is planning an integrated resort on Boracay island at the Savoy Hotel, Philippine Amusement and Gaming Corp Chair Andrea Domingo told reporters at the ASEAN Gaming Summit.

She said the project, which will be a venture with tycoon Andrew Tan, was in the works before President Rodrigo Duterte took office.

“This one made their application and submitted all their requirements in 2014,” she said. “So that one has also been approved, and they [already] built a hotel.”

She said the property had been planning to start casino operations four months from now, however, the timetable is uncertain.

Boracay, famous for its white sand beaches, has hit the headlines in recent weeks because Philippine President Rodrigo Duterte has pledged to shut the island to tourism for a period of up to 12 months due to environmental concerns.

That said,  planned IR projects are moving ahead. Pagcor is scheduled to sign a $500 million contract with Macau’s Galaxy Entertainment Group and Leisure and Resorts World Corp on Wednesday.

Domingo told reporters the Galaxy resort is likely to take between two to three years and will not be affected by a planned forced closure of the island for a clean up.