We reply to the Exchange’s Query in relation to the request for a clarification on the news article entitled “$2 billion hospitality play: Kevin Tan to bring Vegas vibes to Boracay, Cebu” posted in Bilyonaryo.com on July 25, 2025 wherein it was reported in part that:
“Alliance Global Group Inc. (AGI) is making a bold play in the Philippine tourism and gaming scene with plans to invest close to $2 billion in new integrated resorts in Boracay and Cebu.
The expansion is being led by bilyonaryo Kevin Tan, president and CEO of AGI, as the conglomerate aggressively scales up its hospitality and gaming footprint in anticipation of a strong recovery in both international and domestic tourism.
‘In any integrated resort, one of the biggest requirements of PAGCOR is for us to build luxury hotel rooms. So, we’re committed to doing that,’ Tan said. ‘Part of our investments also will be going to other components of tourism, like entertainment.’
. . . .”
Alliance Global Group, Inc. (“AGI” or the “Group” inclusive of its subsidiaries) confirms that it has plans to construct a boutique integrated resort (“IR”) project in Boracay Newcoast with an investment commitment of US$300 million, as previously disclosed. In support of the IR project in Boracay, the AGI Group is building new hotels and has already completed the Boracay Newcoast Convention Center with 1,200 seating capacity. The AGI Group also plans to construct another boutique integrated resort project in Mactan Newtown with an investment commitment of US$300 million. In support of the IR project in Mactan, the AGI Group is also building new hotels and the Mactan Expo Center with 2,500 seating capacity.
There is a possibility that the AGI Group’s collective investment in the above-mentioned integrated resort projects could hit US$2 billion in view of its collective long-term growth plans, and could be considered as the Company’s indicative investment that is forward-looking in nature. Except for the above-mentioned amount of committed investments, the remaining figure is subject to certain risks and uncertainties that could vary the actual amount of the investments.
We trust that we have clarified your query on the matter.
DISCLAIMER: This disclosure contains certain “forward-looking statements”. These forward-looking statements can generally be identified by use of statements that include words or phrases such as Alliance Global Group, Inc. (AGI) or its management “believes”, “expects”, “anticipates”, “intends”, “plans”, “projects”, “foresees”, and other words or phrases of similar import. Similarly, statements that describe AGI’s objectives, plans, and goals are also forward-looking statements. All forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. Nothing in this disclosure is or should be relied upon as a promise or representation of the future. The forward-looking statements included herein are made only as of the date of this disclosure. Unless required by regulation, AGI undertakes no obligation to update such forward-looking statements publicly to reflect subsequent events or circumstances. The delivery of this disclosure shall not, under any circumstance, create any implication that the information contained or referred to in this disclosure is accurate as of any time subsequent to the date hereof. |