AGI building $300-M Boracay casino resort
After confirming the development of a $400-million casino resort in Cebu province, Alliance Global Group Inc. (AGI) has announced another casino in the works under Megaworld Corp., this time at the country’s most popular beach destination.
Nilo Rodriguez, president of Megaworld flagship casino project Newport World Resorts, told reporters last week that they were building a $300-million casino resort on Boracay Island as part of an entertainment complex.
“To complete the development, a casino will be built,” Rodriguez said, adding that they had already secured a gaming license from the Philippine Amusement and Gaming Corp.
The project is touted to be a boutique casino in that it is smaller in size and capacity compared to the Newport complex in Pasay City.
According to AGI president and CEO Kevin Tan, they did not want to build a large structure on Boracay Island, as they were “imploring a sustainable design” to complement the size of the island.
Tan added that construction has already started in time for completion in late 2025 or early 2026.
Article continues after this advertisementBoracay, which welcomes millions of tourists a year, was shuttered for six months in 2018, after former President Rodrigo Duterte had called it a “cesspool” due to garbage disposal issues.
Article continues after this advertisementAGI’s announcement of the new casino project just came days after it had confirmed that it was applying for a gaming license for another facility in Cebu.
Mactan World Resorts will stand within AGI’s 30-hectare Mactan Newtown township in Lapu-Lapu City, or minutes away from the Mactan-Cebu International Airport, the country’s second-busiest gateway.
The entertainment complex is slated for completion in 2026.
Growing tourism in the country has encouraged AGI to ramp up its hotel expansion beyond 12,000 hotel room keys by 2028.
Tan said they had planned to launch more “tourism-focused” hotel projects to support the government’s thrust for the sector.
This year, the Department of Tourism wants to see 7.7 million foreign tourist arrivals in the country, or 41 percent above last year’s total. As of August, the Philippines has welcomed 3.7 million foreigners.
At present, AGI has around 7,000 hotel rooms in its portfolio, half of which come from Newport World Resorts alone.
According to Tan, they are constructing eight hotels with a total key count of 4,000. INQ
