Alliance Global Group Inc. (AGI), led by businessman Andrew Tan, plans to invest about $300 million in a new integrated resort project in the Visayas Islands.
AGI President and CEO Kevin Tan revealed that the group plans to launch and open the Boracay Island World Resort by the end of next year.
Although the plan is still being finalized, Tan emphasized that the casino part of the resort will not be large.
Tan stated: "This will be a boutique casino. We do not want to build a large structure on Boracay Island. Instead, we are focused on creating something that fits the scale of the island, while ensuring the design is sustainable and complements the environment."
The Boracay Island World Resort is part of two major projects developed by AGI's leisure and tourism division, Travellers International Hotel Group Inc., outside the Metropolitan Manila area.
Tan added in a report published in the Philippine Star: "Boracay Island is one of the Philippines' main tourist destinations, rated as the world's best beach by Condé Nast Traveler, and the Boracay Island World Resort will further enhance the island's appeal to global travelers."
He further stated: "Our group owns a 150-hectare town called New Coast Boracay, which includes an 18-hole golf course, a one-kilometer private beach, and nearly 2,000 hotel rooms. Travelers are also creating an integrated resort that combines villas and hotel suites, positioning Boracay Island World Resort as a top destination. This project combines the natural beauty of Boracay Island with the elegance and excitement of a modern resort."
In addition, Travellers is also investing about $400 million in another integrated resort, Mactan World Resorts, in Cebu, expected to start operations by the end of 2026.
