Filipino-Chinese entrepreneur and President of AGI Alliance Global Group, Kevin Tan, recently announced an investment of nearly $2 billion in Boracay and Cebu to build two world-class integrated resorts featuring luxury hotels, casinos, and large entertainment facilities, aiming to transform these popular tourist destinations into the "Las Vegas of Southeast Asia" and comprehensively reshape the structure of the Philippines' gambling and tourism industries.
The Boracay project will be located within a 150-hectare development area owned by AGI, which already includes an 18-hole golf course and nearly 2000 rooms. The casino is expected to open in 2026. Another project on Mactan Island in Cebu is also planned to be completed in the same year, which will create over 5,000 local jobs and attract global high-net-worth tourists.
Kevin Tan noted that this massive investment is part of AGI Group's long-term strategy. The group currently operates Newport World Resorts in Manila and holds a leading position in the Philippine hotel and gambling industry. According to the development blueprint, by 2030, AGI plans to increase its number of hotels to 27 with a total of 12,000 rooms, significantly exceeding the current 19 hotels and 8,000 rooms.
As the son of Filipino-Chinese business magnate Andrew Tan, Kevin Tan is steadily taking over the family empire, advancing in real estate, tourism, gambling, and high-end retail. This substantial investment in Boracay and Cebu is seen as AGI's strategic bet on the strong post-pandemic recovery of tourism in the Philippines, also indicating potential major transformations in the country's entertainment industry landscape.
