Galaxy in talks to open resort in Philippines
Galaxy’s Deputy Chairman Francis Lui engaged in talks with Philippines President Rodrigo Duterte last week to discuss business opportunities. “Galaxy and its Philippines partner, Leisure & Resorts World Corp., plan to open a USD 300 M to USD 500 M casino on the resort island of Boracay,” Philippine Amusement & Gaming Chairman Andrea Domingo said Thursday. “The companies are applying for a license,” she added.
Casino operators are seeking out new markets for growth and the Philippines’ loose regulation of gaming and young population has made it an attractive destination to build new gaming resorts. President Rodrigo Duterte’s bid to ease tensions with China is also helping to draw in gamblers from the mainland.
“Galaxy would like to play a role in the One Belt One Road initiative and we strongly believe the Philippines has great potential and offers attractive opportunities,” Lui said, referring to China’s economic and diplomatic program to increase trade with countries in the region.
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