Tuesday, January 18, 2022

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PH Resorts gets approval to suspend Clark license, says no impact on group finance

PH Resorts said it has received approval from the Philippines Amusement and Gaming Corp. (PAGCOR) to temporarily suspend its license for an integrated resort...

PH Resorts bullish about recovery as its raises P600 million

PH Resorts, which is building the Emerald Bay Resort project in Cebu, announced it has successfully raised approximately P600 million from a select group of Qualified Buyers. 

PH Resorts to raise capital for Emerald Bay construction

PH Resorts is looking to raise US$11.9 million through the sale of common shares to help fund construction of its Emerald Bay Resort and casino project.

PH Resorts posts widened net loss in 1H21, despite lower expenses

PH Resorts, the developer of Emerald Bay resort in Cebu, reported a widened net loss of P175.5 million in 1H21, due mainly to ongoing construction activities at Emerald Bay.

PH Resorts hopeful of tourism resumption with vaccines

PH Resorts said it believes that in the coming months there will be a resumption of both international and local flights as vaccines are rolled out, which will spur a recovery of tourism in the Philippines and around the region.

PH Resorts pushes back Emerald Bay opening to 3Q, 2022

PH Resorts said it now expects to open its Emerald Bay resort on Cebu in the Philippines in the third quarter of 2022. It had earlier said it was pushing hard for a soft opening late this year.

PH Resorts eyes Japan’s high rollers with junket accord

PH Resorts, which is developing the Emerald Bay resort on Cebu, has signed an accord with a junket operator aimed at tapping into Japan’s VIP market.

PH Resorts on track to open Cebu resort before end of 2021

PH Resorts Group’s Emerald Bay casino resort is set to open before the end of the year despite difficult market conditions. The company said the new resort will target Asia’s growing gaming market.

Udenna ups stake in PH Resorts to 86.59%

Udenna Corp. now holds 86.59 percent of PH Resorts following the issue of new shares. Prior to the transaction, the company owned 82.28 percent. The funds will be used to help finance the development of PH Resort's flagship project, the Emerald Bay Resort. 

PH Resorts tops off Emerald Bay, gets funding pledge

PH Resorts said it has topped off two hotel towers at Emerald Bay Resort on Mactan Island and that it has also got a further funding pledge from parent company Udenna Corp through a share subscription.