“The project will be undertaken by AGI’s subsidiary, Boracay Newcoast Resorts Inc., and will be smaller in size than its Integrated Resort and Casino Project, Newport World Resorts [in Manila],” the company said in a stock exchange filing, in response to a report by InsiderPH.
Boracay Newcoast Resorts had previously secured a provisional license from state-run Philippine Amusement & Gaming Corp. (Pagcor).
The planned project will rise in the Boracay Newcoast township of Megaworld Corp., the flagship property arm of AGI. This will also be the group’s first gaming project outside Metro Manila.
AGI president and CEO Kevin Tan stated in a previous interview with Inside Asian Gaming that the casino will have sustainable design features to preserve Boracay’s pristine environment.
Apart from Boracay, the group is also planning a $300-million casino resort in the Mactan Newtown project in Cebu.
