LRWC: Boracay project more resort than casino

Leisure and Resorts World Corp. (LRWC) disclosed that its planned Boracay resort to be developed in partnership between Macau’s Galaxy Entertainment Group (GEG) is not a “mega casino” but a top leisure destination in Boracay targeting Asian families.

In a statement, LRWC said the integrated resort will redefine the standards of luxury resorts in the country with bulk of its gross floor area allocated for premium hotel rooms and other amenities like wellness centers, bars, lounges and fine dining restaurants.

Based on the resort's conceptual design, the casino and gaming area's maximum footprint will not exceed 7.5 percent of the total floor area of the resort "at all times."

"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," Atty. Katrina Nepomuceno, LRWC VP for Legal said.

She added that GEG and LRWC are expected to leverage on Galaxy’s database of clients across the region and the rest of Asia.

Specifically, they are targeting families and clients from Galaxy’s loyalty program to contribute approximately 50 percent of the customers, while other travellers to Boracay – Chinese tourists in particular – will account for the other half.

To minimize the resort's impact and preserve the area's natural beauty, the property will be constructed following the contours of the site with lots of open spaces and lush landscaping.

In addition, the resort will be designed to provide ample space for all the comforts, luxuries and activities for each family member. To do this, project proponents are committed to maintain a low-density development.

Last week, GEG and its local partner LRWC were granted a provisional gaming license to operate Boracay Philippines Resort and Leisure Corp., a $550-million integrated resort development in the popular tourist destination.

Philippine Amusement and Gaming Corp. (Pagcor) chair and CEO Andrea Domingo and project proponents signed the contract for the license last Wednesday, to jumpstart the process of securing all necessary permits and clearances prior to construction.

Based on the project's timetable, construction would take at least three years with operations expected to commence soon after or as early as 2021, Nepomuceno said. (JAL)