A new Philippine casino resort involving Galaxy Entertainment Group is expected to bring in US$100m in revenue annually.
The scheme will be a similar arrangement to the City of Dreams Manila casino resort, where a local partner holds the land and the outside operator manages the property. Construction of the US$500m casino resort on the holiday island of Boracay will start next year.
Macau casino operator Galaxy Entertainment said in a press release that a wholly-owned unit had been granted a provisional gaming licence by the Philippine Amusement and Gaming Corporation. The local partner for Galaxy is Leisure and Resorts World Corp, which will hold the 23-hectare beachfront site.
