Leisure & Resorts World Corp (LRWC) said it’s looking forward to the resumption of discussions with Macau’s Galaxy Entertainment for a casino on Boracay, but as yet there have been no talks.
The company made the clarification in a statement to the Philippines Stock Exchange.
LRWC and Galaxy had been planning a $500 million casino complex on the Philippine island. However, shortly after announcing they had been granted a license, President Rodrigo Duterte placed a moratorium on new casino projects and an outright ban on gambling on Boracay.
This week, the President has changed his stance, lifting the moratorium. He said the pandemic had changed the economic circumstances and the government needs to raise extra revenue.