MANILA - The local partner of Macau's Galaxy Entertainment Group is looking to restart talks with the Chinese gaming giant after President Rodrigo Duterte said he would allow casinos in Boracay.
Listed firm Leisure and Resorts World Corporation (LRWC) said it has yet to talk with Galaxy but looks forward to resuming discussions.
"The Company is looking forward to the resumption of the discussions with Galaxy in view of the President's go-signal for casino operation in Boracay," LRWC disclosed to the stock market.
LRWC and Galaxy were set to build a $500 million integrated resort in Boracay in 2018, and even secured a provisional license with the Philippine Amusement and Gaming Corp in March that year.
Duterte however ordered later that year that Boracay should be casino-free when the island reopened after its rehabilitation.
But last week, Duterte reversed his ban, saying the government needed funds.
On Wednesday, tycoon Andrew Tan said his company Megaworld, was ready to push forward with its casino project in Boracay.
Some residents of Boracay however are opposing the establishment of casinos on the island.