LRWC, Macau firm plan to put up Boracay casino [The Manila Times]
December 12, 2017
THE MANILA TIMES / ANGELICA BALLESTEROS /
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LEISURE and Resorts World Corp. (LRWC) said Monday it was in talks with a Macau-based firm for the possible establishment of a world-class beach resort and casino on Boracay Island in Aklan Province.
LRWC and Macau’s Galaxy Entertainment Group (GEG) discussed the project last week with President Rodrigo Duterte,
“Galaxy is excited about the possibility of teaming [up]with LRWC to develop a world-class beach resort for our players in Boracay, which was just rated the number one island in the world in 2017 by Conde Nast Traveller readers,” GEG Vice Chairman Francis Lui Yiu Tung said.
This is also in line with GEG and its mother company’s goal of playing a role in the One Belt One Road initiative of Beijing, as well as to explore greater potential and attractive business investments in the Philippines.
“We look forward to working with GEG in bringing a world-class resort to the island-paradise of Boracay. If the project materializes as envisaged, it’s going to be a game changer in the Philippine resort and tourism landscape,” Katrina Nepomuceno, LRWC vice president for legal and corporate secretary, said.
LRWC is a holding firm with interests in property development focusing on leisure business, gaming and recreation.
The company owns Bingo parlors all over the Philippines and has an existing license agreement with the Cagayan Economic Zone Authority to develop, operate and conduct internet and gaming enterprises and facilities in the Cagayan Special Economic Zone Freeport. It is also engaged in the hotel and recreation
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