Leisure and Resorts World Corp. (LRWC) clarified on Monday, March 26, that the $500-million Boracay resort it will be developing is not a mega casino.
In a statement, LRWC said the casino and gaming area will only cover a maximum of 7.5% of the total floor area of the project. The rest will house hotels and amenities such as wellness centers, bars, lounges, and restaurants.
“Thus, the planned Boracay Resort is expected to churn more revenues from the hotel and other ancillary businesses vis-a-vis the gaming segment as it attracts customers all over the region looking for luxury Asian destinations,” LRWC Vice President and Compliance Officer Katrina L. Nepumoceno said in a statement.
The listed gaming and casino operator recently confirmed that it has purchased a 23-hectare property in Barangay Manoc-Manoc in Boracay. LRWC will be partnering with Galaxy Entertainment Group (GEG) for the project, with the latter already holding a provisional license issued by the Philippine Amusement and Gaming Corp. (PAGCOR). — Arra B. Francia