Galaxy Entertainment currently owns three casino resorts in Macau, plus three smaller card club casinos in China’s special gaming enclave.<\/p>\n
The Philippines already has one Chinese gaming conglomerate doing business in the country. The $1.3 billion City of Dreams Manila resort is owned by Melco Resorts, which was previously a joint venture between Melco and Australia’s Crown Resorts.<\/p>\n
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Galaxy Entertainment says the improved relationship between China and the Philippines makes it an opportune time to develop in the island nation. “The Philippines has great potential and offers attractive opportunities,” Galaxy Deputy Chairman Francis Lui said this week.<\/p>\n<\/div>\n
Duterte has been less adamant about being a strong ally to the United States, and instead has looked to reduce the hostility between his country and China.<\/p>\n
PAGCOR Shakeup<\/b><\/h2>\n
Part of the mission to make the Philippines a leading gaming tourism destination involves PAGCOR transitioning into a regulator-only capacity.<\/p>\n
The agency currently owns and operates 13 Casino Filipino locations and 35 satellite gaming facilities. Those assets will soon be sold to private companies.<\/p>\n
Once PAGCOR is free of possessing actual gambling venues, the organization is likely going to be renamed the Philippine Amusements and Gaming Authority.<\/p>\n
PAGCOR is seemingly well on its way in accomplishing Duterte’s directive. In its half-year fiscal report filed last month, PAGCOR reported gross gaming revenue<\/a> of PHP 39.15 billion ($760 million), which represents a 14.5 percent year-over-year increase.<\/p>\n","protected":false},"excerpt":{"rendered":"Galaxy Entertainment is ready to take its show on the road and develop its first integrated casino resort outside of Macau. The Hong Kong-based gaming and hospitality conglomerate founded and owned by billionaire Lui Che Woo is reportedly seeking regulatory approval for a $300 million to $500 million project from the Philippine Amusement and Gaming […]<\/p>\n","protected":false},"author":42,"featured_media":64994,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18,61],"tags":[],"acf":[],"yoast_head":"\n
Galaxy Entertainment Looks to Invest $500 Million in Philippines Casino<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n