Leisure and Resorts World Corporation based in the Philippines is a publicly listed firm that has been around since 1999. The company is one of the country’s most diversified entertainment and gaming companies that owns and manages a great number of bingo halls, casino arcades, online gaming venues, hotels alongside other real estate developments and casino operations.
The firm is currently focused on serving the rich, ever-growing Philippine entertainment and retail game market where Leisure and Resorts World Corporation provides all sorts of premium, world-class gaming platforms, casino games and numerous other products related to casino gaming. Furthermore, the company also boasts a great distribution network which includes a number of entertainment facilities active in the Philippine casino gaming market.
Since its establishment, Leisure and Resorts World Corporation has partnered with different local organizations such as Local Government Units and Gawad Kalinga to contribute to its society through dental and medical missions as well as through different educational programs.
Ceasing Talks with Galaxy Entertainment Group Limited
Even though the company dominates the Philippine retail gaming market, its board of committee has just decided to pull out of its previous plan which would see Leisure and Resorts World Corporation partnering with prominent Galaxy Entertainment Group Limited to construct a luxurious, $500-worth fully integrated casino resort on the island of Boracay.
As reported by GGRAsia and several other local news outlets, the company’s Acting Chairman Eusebio Tanco shared this news in one of his official press releases. Mr. Tanco said that his company Leisure and Resorts World Corporation had just ceased business talks with Galaxy Entertainment Group Limited regarding the previous plan to build a casino to the island of Boracay.
Both companies were eager to start working on the project. Before Leisure and Resorts World Corporation based in Manilla decided to pull out of the plan, its officials had everything envisioned including partnering with Galaxy Entertainment Group Limited to construct a fully environment-friendly casino resort. According to the company’s plan, this casino resort would feature a one thousand-room hotel alongside two hundred villas and a massive casino floor packed with sixty table games.
However, this business proposal came across various challenges and obstacles as well as a major blow in April of 2018 when the country’s President Mr. Duterte decided to shut the island of Boracay for at least six months so that the island’s sewerage infrastructure could be improved and upgraded.
Galaxy Entertainment Group Limited Granted Provisional Authorization
At the time when Leisure and Resorts World Corporation crafted the plan, Galaxy Entertainment Group Limited had just received necessary provisional authorization issued by the PAGCor or Philippine Amusement and Gaming Corporation which allowed the company to construct the Boracay casino resort. The company was hoping to start welcoming guests to this venue in 2021.
Nonetheless, all hopes that Boracay located around two hundred miles from the country’s capital will become home to such a venue were shattered away when seventy-four-year-old Rodrigo Duterte decided to designate the island as a land reform region to gift farmers more plots.
According to GGRAsia, this move led the CEO and President for the Philippine Amusement and Gaming Corporation Mr. Lim to put on hold the entire project. This status may change in the future if the interested developers and other parties come up with measures that will convince Mr. Duterte to change his decision.
