{"id":777019098,"date":"2024-09-17T09:55:41","date_gmt":"2024-09-17T12:55:41","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777019098"},"modified":"2026-04-22T06:02:42","modified_gmt":"2026-04-22T09:02:42","slug":"agi-to-invest-us300m-in-new-ir-in-boracay","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/agi-to-invest-us300m-in-new-ir-in-boracay","title":{"rendered":"AGI to invest US$300m in new IR in Boracay"},"content":{"rendered":"\n

President and chief executive officer Kevin Tan says the IR will be the first of two expansions outside Metro Manila.<\/p>\n\n\n\n\n\n\n\n

The Philippines.-\u00a0Alliance Global Group (AGI)<\/strong> plans to allocate US$300m for the development of a new integrated resort (IR) in Boracay. In an interview, AGI president and chief executive officer Kevin Tan said the company aims to open Boracay World Resorts by the end of 2025.<\/p>\n\n\n\n

The project’s specifics are still being finalised, but Tan said the casino part will not be extensive. He said: “It will be a boutique casino. We do not want to have a very big structure in Boracay. What we want is just the right size for the island. And we\u2019re also imploring a more sustainable design to go well with the island.”<\/p>\n\n\n\n

Tan said Boracay World Resorts will be one of an initial two expansions outside Metro Manila being pursued by the company’s leisure and tourism arm, Travellers International Hotel Group (operator of Newport World Resorts casino and leisure complex in Manila).<\/p>\n\n\n\n

“Our group owns a 150-hectare township called Boracay Newcoast, featuring an 18-hole golf course, a one-kilometre private beach, and nearly 2,000 hotel rooms. Travellers International is also building an integrated resort with villas and hotel suites,” he said.<\/p>\n\n\n\n

Travellers is also dedicating approximately US$400m to develop a new integrated resort in Cebu called the Mactan World Resorts. It aims to begin commercial operations at the end of 2026. Mactan World Resorts will feature a hotel, resort, and casino and is expected to create over 5,000 new employment opportunities for the residents of Lapu-Lapu City and nearby cities and municipalities.<\/p>\n\n\n\n

AGI posted net revenue of PHP23m (US$7.4m)<\/a> in Q2. Gross revenue was up 17 per cent year-on-year at PHP10.9bn (US$191m), mainly due to \u201cthe sharp 20 per cent quarter-on-quarter expansion in gross gaming revenues.\u201d Non-gaming revenue was up 8 per cent sequentially while gaming revenue grew by 20 per cent.<\/p>\n\n\n\n

See also: <\/strong>3 casino investors top Forbes Philippines\u2019 50 Richest list<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

President and chief executive officer Kevin Tan says the IR will be the first of two expansions outside Metro Manila.<\/p>\n","protected":false},"author":176,"featured_media":22355,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Alliance Global Group (AGI) is allocating US$700m for two new integrated resorts in the Philippines: Boracay World Resorts (US$300m, 2025) and Mactan World Resorts (US$400m, 2026), expanding its leisure and tourism footprint beyond Metro Manila. These developments, led by Travellers International Hotel Group, coincide with AGI's strong Q2 financial performance, marked by a 20% quarter-on-quarter growth in Gross Gaming Revenues. The Boracay project will feature a boutique casino with a sustainable design, while Mactan is expected to create over 5,000 new employment opportunities.","focusai_entities":"Alliance Global Group (AGI), Kevin Tan, Travellers International Hotel Group, Newport World Resorts, Forbes Philippines","focusai_location":"Philippines, Boracay, Cebu, Mactan, Lapu-Lapu City, Manila, Metro Manila","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.85), journalist_researcher (0.9)","focusai_suggestions":[{"label":"IR Project ROI","query":"What are the projected Gross Gaming Revenue (GGR) and non-gaming revenue contributions from Boracay World Resorts and Mactan World Resorts, and what is the anticipated return on investment (ROI) timeline for these US$700m capital expenditures?"},{"label":"Regulatory Framework Impact","query":"How will the regulatory compliance and licensing frameworks for these new integrated resorts in Boracay and Cebu differ from those governing existing Metro Manila properties, particularly concerning environmental sustainability and local community engagement?"}],"footnotes":""},"categories":[157,16333],"tags":[23632],"class_list":["post-777019098","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-integrated-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777019098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777019098"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777019098\/revisions"}],"predecessor-version":[{"id":777019126,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777019098\/revisions\/777019126"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22355"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777019098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777019098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777019098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}