Boracay Casino on Hold

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Boracay Casino on Hold

President Duterte wants to clean up Boracay and is not happy to have more casinos trying to open their doors on the island. He feels there is corruption and has called Boracay a cesspool. He has threatened to close the entire island down until it is not only environmentally clean but rid of corrupt officials.

Duterte’s position on casinos puts Galaxy’s casino concept on hold.

Last week, there was hope that Galaxy Entertainment would be able to move to their casino. News stated PAGCOR was on board with a land deal, but only for a resort and entertainment complex, not a casino.

The first day of May 2018 is telling a slightly different story. Galaxy may never be able to build a casino on Boracay Island. The company is trying to convince President Duterte to allow the casino, but his recent media appearances are making it clear that he is never going to waver on the concept. Instead, he is close to forcing a closure, so what does this mean for Galaxy?

Galaxy Land Useless?

The casino project is on hold, and if Duterte follows through with his closure of the entire island, Galaxy may not be able to build their hotel with non-gaming entertainment. For now, the land is not useless, but that does not mean things will go Galaxy’s way. President Duterte wants the environment cleaned up on the island, with forest land returned to a healthier situation. He is not going to approve a casino, as he has made statements about gambling being evil.

At this time, there is a six-month rehabilitation project going on, where 30k employees may lose their jobs if President Duterte closes all casinos on the island, permanently. He is even asking farmers to rehabilitate their land.

It does not seem to matter that if Galaxy opens the hotel project revenue for the Philippines would be $100 million. The president does not seem to think the money is worth letting a casino form on the land Galaxy bought.

He did mention that the six-month island closure may be lessened as long as no one interferes with the cleanup process. If the island is fully closed for six months, the revenue loss will be $38 million. It would be detrimental to people’s livelihood. For now, the closure is in effect without a clear duration and employees may need to leave their posts creating complete closure.

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