MANILA - Macau casino giant Galaxy Entertainment and its Filipino partner, Leisure and Resorts World Corp, will secure a provisional license for the construction of a $500 million resort in Boracay, the state gaming regulator said Tuesday.

The provisional license for the venture will be signed on Wednesday, Philippine Amusement and Gaming Corp Chairperson Andrea Domingo said.

This will pave the way for the investment, which will come, as the government prepares to shut down the island for a massive cleanup.

Domingo said President Rodrigo Duterte met with Galaxy executives and "emphasized" to them the need to protect the environment and shun corruption.

"These things, they assured the President, they will guard the environment," Domingo said.

Domingo said construction on the resort would be longer than the planned shutdown of Boracay, which could take 6 to 12 months.

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Leisure and Resorts World said the resort would be built on a 23-hectare property acquired by its subsidiary in Manoc-Manoc village.

Two other Boracay developments were announced before the planned shutdown. Billionaire Andrew Tan's Megaworld is building the P2.2-billion Savoy Hotel with 500 rooms.

DoubleDragon's Hotel 101 chain, on the other hand, announced plans to build a 1,001-room hotel, which it said would be the country's largest.

• Megaworld to open P2.2 billion hotel in Boracay this year

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