Alliance Global Group, Inc (AGI), led by CEO Kevin Tan, has confirmed plans for its first casino outside Metro Manila, targeting Boracay’s Newcoast township for this expansion.
The project will be managed by AGI’s subsidiary, Boracay Newcoast Resorts, Inc. (BNRI), and aims to deliver a boutique-style casino, smaller than AGI’s Newport World Resorts in Manila. The investment for this development is set at $300 million, aligned with BNRI’s provisional license from PAGCOR.
Tan emphasized that the new facility will cater specifically to the Boracay market, focusing on a “modest-sized” resort that fits the area’s unique environment. While the project is still in the planning stages, it marks a strategic shift for AGI, expanding beyond the Manila gaming scene.
The company acknowledged that this move is a response to growing demand for more diverse tourism and entertainment options in Boracay. However, given the scale of this venture, AGI expects a smaller financial impact compared to its larger developments like Newport World Resorts.
AGI has committed to keeping stakeholders informed as the project progresses, ensuring transparency in line with regulatory requirements. The group also included a disclaimer about forward-looking statements, emphasizing that details could change based on market conditions and regulatory processes. The company’s cautious approach underlines its focus on adapting to market trends while exploring new opportunities in the Philippine gaming sector.
With the planned development, AGI aims to tap into Boracay’s thriving tourism market, adding a new dimension to the island’s offerings. The project represents a strategic move to diversify AGI’s portfolio, combining the allure of Boracay’s natural beauty with a tailored gaming experience.