PH Resorts partners with EEI to restart Emerald Bay development

Philippines

Viviana Chan

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December 9, 2024

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PH Resorts partners with EEI to restart Emerald Bay development

Philippine tycoon Dennis Uy’s PH Resorts Group Holdings has partnered with EEI Corporation to revive the long-stalled Emerald Bay Resort and Casino project in Mactan, Cebu.

The partnership was disclosed in a filing with the Philippine Stock Exchange (PSE) on Monday, following the signing of a Memorandum of Understanding (MOU) between PH Resorts’ parent company, Udenna Corporation, and EEI.

EEI is partially owned by RYM Business Management Corp, a company controlled by the family of Martin Romualdez, Speaker of the House of Representatives and a cousin of President Marcos, while Dennis Uy is known as an ally of former Philippine President Rodrigo Duterte.

Under the agreement, EEI will be responsible for financing, constructing, and completing the $300 million integrated resort (IR), subject to the finalization of definitive agreements and regulatory approvals. This development marks significant progress for the project, which began in 2017 but has faced multiple delays.

If completed, Emerald Bay will feature a five-star hotel with 642 rooms. The gaming floor is expected to have over 700 electronic gaming machines and more than 140 table games.

On Monday, shares of PH Resorts tumbled 20 percent following the announcement of the agreement.

In November, PH Resorts Group reported a net loss of PHP392.9 million ($6.7 million) for the nine months ending September 30th, 2024, an improvement from a PHP2.2 billion ($37 million) loss in 2023. Despite this, the group continues to face financial challenges, with a deficit of PHP7.22 billion ($123 million) and liabilities exceeding assets by PHP12.55 billion ($214 million).

Before finalizing the partnership with EEI, the firm had struggled with the Emerald Bay Resort development. As reported by AGB, PH Travel, a subsidiary of PH Resorts, signed a term sheet with Bloomberry Resorts Corporation (BRC) in May 2022 for potential investment in LLI and CGLC, but BRC withdrew in March 2023. A new deal with Tiger Resort Leisure & Entertainment, Inc. (TRLEI) to take over the Emerald Bay project in December 2023 was also terminated in July 2024.

The National Basketball Association (NBA) has announced a multiyear partnership with Sands China Ltd. to host the NBA China Games in Macau, beginning in 2025. The event will kick off with the Brooklyn Nets and the Phoenix Suns playing two preseason games at The Venetian Arena on October 10th and 12th of next year.

According to Sands China, this collaboration aims to enhance the NBA experience for fans in Macau through a variety of activities throughout the year.

‘Fans can look forward to interactive events, community outreach initiatives under the NBA Cares program, and a special NBA Fan Day during game week, featuring celebrity performances and on-court activities involving teams, celebrities, and influencers’, the company announced.

Additionally, an NBA Flagship Store will open at The Londoner Macao, offering a wide selection of NBA merchandise from brands such as Nike and Wilson.

The announcement was made during an event at The Londoner Arena, featuring NBA Deputy Commissioner Mark Tatum, Sands China President Grant Chum, and Las Vegas Sands President Patrick Dumont. They were joined on stage by NBA legends including Ray Allen and Tracy McGrady, as well as executives from both the Nets and Suns.

The Nets will bring a roster that includes 2023 FIBA World Cup gold medalist Dennis Schröder and three-time NBA All-Star Ben Simmons, while the Suns will feature four-time Olympic gold medalist Kevin Durant and two-time Olympic gold medalist Devin Booker.

NBA to bring pre-season games to Macau annually in 5-year deal with Sands

The NBA China Games 2025, presented by 88VIP, will be broadcast to fans in over 200 countries and territories through various media platforms, with ticket sales information to be released later.

In addition to 88VIP, the games will be supported by partners such as Ant International, Ctrip, and Nike, with Sands China serving as the Official Promoter.

NBA Deputy Commissioner and Chief Operating Officer Mark Tatum expressed enthusiasm for bringing NBA action to Macau, highlighting the opportunity to engage with local fans and aspiring players.

Meanwhile, SCL President and Chief Executive Officer Grant Chum noted that this partnership reflects Sands China’s commitment to providing exceptional sports experiences for both local and international audiences.

Las Vegas Sands conglomerate is controlled by the Adelson family, who are the majority ownership group in the Dallas Mavericks NBA franchise.

Basketball is hugely popular in China, with 17 teams playing a total of 28 pre-season games from 2004 to 2019 in the country.

However no NBA games have been held in China since two pre-season contests in 2019 after a tweet from then-Houston Rockets general manager Daryl Morey supporting pro-democracy protests in Hong Kong.

In the fallout, the NBA lost hundreds of millions of dollars after its games were pulled from Chinese television until 2022.

The People’s Republic of China (PRC) has recorded a significant increase in lottery sales for the first nine months of 2024, with total sales reaching approximately RMB468.9 billion ($66.5 billion), reflecting a 9.4 percent increase compared to the same period in 2023, according to data released by the Ministry of Finance (MOF).

These figures underscore the growing popularity of legal lotteries in China, which include the Welfare Lottery and the Sports Lottery, both of which operate under government regulation.

The Welfare Lottery contributed approximately RMB157.4 billion ($22.5 billion) to this total, marking an increase of about 8.9 percent from the previous year. Meanwhile, the Sports Lottery outperformed with sales of approximately RMB311.5 billion ($44 billion), representing a 9.7 percent increase compared to the corresponding period in 2023.

Lottery sales in mainland China reached RMB579.7 billion ($81.2 billion) in 2023, a considerable 36.5 percent year-on-year jump.

Lotteries in China are authorized and issued by the state, allowing players to purchase tickets voluntarily. The primary objective is to raise public welfare funds and support social community initiatives, with lottery tickets serving as proof of winning under specific regulations. Notably, lottery operators do not return the principal to players nor do they bear interest.

There are two main types of lottery tickets issued in China: the China Welfare Lottery, launched by the China Welfare Lottery Distribution Center in 1987, and the China Sports Lottery, introduced by the China Sports Lottery Administration Center in 1995.

Both the Welfare Lottery and the Sports Lottery encompass five primary product categories: traditional lotto games featuring daily or weekly draws, modern high-frequency games with multiple draws per hour (“Lotto”), sports betting, video lottery terminals (“VLT”), keno products, and instant scratch cards (“Scratch”).

China’s State Council holds the authority to authorize the issuance of both types of lottery, serving as the highest body to grant rights for lottery issuance, while the Ministry of Finance is tasked with administering, regulating, and supervising the national lottery industry.

The Company’s participants were led by Ms. Daisy Ho, Managing Director of SJM, and Ms. Angela Leong, Director and Chairman of the Staff Consultative Committee of SJM. Team members from Grand Lisboa Palace Resort, Grand Lisboa, Hotel Lisboa, Jai Alai Oceanus, Ponte 16 Resort, and various departments from SJM joined the walk alongside their families and friends. The “Walk for a Million” is a significant social event of the year, allowing participants to experience the joy of charity while spreading love and hope.

SJM Resorts proudly supports the “41st Walk for a Million” — _{Ms. Daisy Ho, Managing Director of SJM, and Ms. Angela Leong, Director and Chairman of the Staff Consultative Committee, led the team to participate in the “41st Walk for a Million” alongside their families and friends}

Ms. Daisy Ho stated, “At SJM, giving back to society is one of our top priorities. We are dedicated to supporting charitable initiatives. In addition to our recent donation of MOP700,000, we are delighted to organize a sizable team to participate in ‘Walk for a Million’ as we always do. We take to the streets to join hands and infuse new energy into Macau’s charitable environment.”

Rooted in Macau for more than six decades, SJM is devoted to supporting charitable causes. The SJM Volunteer Team collaborates closely with non-profit organizations, participating in various community outreach programs and visits to support underprivileged groups, all aimed at nurturing a kinder city.

Speaking of the new appointments, Daniel Cohen, Partner at Apollo indicated “As we look to position IGT Gaming and Everi as a premier, diversified customer-centric platform at the forefront of innovation in the gaming and fintech industries, Hector brings an impressive track record of successfully scaling operations and strengthening customer relationships while being a champion for strong values”.

Looking at Khin’s leadership in the interim period, Cohen noted “We’re excited for Nick to take on the additional responsibility of Interim CEO upon closing of the acquisitions and are confident he will succeed in his role of leading the land-based gaming businesses of the combined enterprise once Hector officially joins”.

Speaking of the other two position elevations, Cohen noted “We are also pleased to have leaders of Gil’s and Darren’s caliber from both companies ready to take on key leadership roles in the combined enterprise”.

Wazdan expands European footprint through Volcanobet partnership

Europe

AGBrief Editorial

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December 6, 2024

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Wazdan expands European footprint through Volcanobet partnership

Wazdan, the leading gain-focused developer, has reaffirmed its impressive European presence through its latest tie-up with Montenegrin operator Volcanobet.

The partnership will see players from across Southeastern Europe benefit from Wazdan’s top-performing titles Mighty Wild™: Panther Grand Diamond Edition, 36 Coins™ and 25 Coins™, as well as the developer’s latest releases Hot Slot™: 777 Cash Out Grand Diamond Edition, 12 Bells™ and 12 Coins™ Grand Platinum Edition.

Founded in 1999, Volcanobet has gone through rapid branding expansion, which makes it the leading gambling concessionaire in Montenegro, courtesy of its impressive portfolio featuring slots and a comprehensive live casino and sportsbook offering.

As well as the operator enhancing its slot library with Wazdan’s industry-renowned content, the provider’s engagement-boosting mechanics will also be available to slot enthusiasts in the region, featuring the likes of Cash Infinity™, Collect to Infinity™, Sticky to Infinity™, as well as the beloved Hold the Jackpot™ bonus game.

Wazdan’s latest commercial expansion underlines the studio’s ambition to continue expanding its European and global footprint, offering its innovative and captivating portfolio to a growing number of partners and players worldwide.

Andrzej Hyla, Chief Commercial Officer at Wazdan, said: “We’re delighted to partner with Volcanobet, bringing our advanced slot offering to Montenegro and helping to assist the company’s dynamic expansion across Southeastern Europe. Whilst also boosting Wazdan’s profile across Europe, we are confident Montenegrin players will be enthused by our mechanic-led portfolio and look forward to getting a response from slot enthusiasts across the region.”

Miloš Joksimović, Director of Product Development and Customer Support at Volcanobet, said: “Operating as the largest iGaming brand in Montenegro, we are always seeking out opportunities to elevate our offering and partnering with Wazdan allows us to do precisely that. The Wazdan’s content portfolio contains engaging, exciting and progressive titles, incorporating cutting-edge mechanics and immersive gameplay, so integrating its offering adds great value to the Volcanobet brand.”

Back in May the government had announced that it was pushing back the date of the casino license suspension until December 20^th, with the Special Manager in place, Nicholas Weeks, to remain on until December 8^th. Weeks’ Special Manager position has now been further extended to June 30^th of 2025.

In making the extension, the Queensland government indicated that it ‘considered the independent advice of Special Manager, Mr Nicholas Weeks, and The Star’s remediation progress to date’.

The new timeline would give authorities time ‘to properly assess The Star’s progress on its only recently amended remediation plan’, with Weeks to ‘be an integral part of that process’.

A report by the Special Manager and the outcome of the government’s assessment will be released “following the Government’s March 2025 decision,” indicated Attorney-General Deb Frecklington.

“This Government has been clear in its expectations of The Star, and will not allow The Star Gold Coast to keep operating as a casino at the expense of integrity, our Government’s high standards, and community safety,” indicated the official.

“We recognize this may place pressure on The Star; however, the remediation actions must be its urgent priority.

“There should be no assumption that there will be any further deferrals granted to The Star and any failure to meet milestones may result in The Star Gold Coast casino license being suspended,” she stated.

Under evaluation will be The Star’s ‘progressing in achieving its priority remediation measures of cultural reform, safer gambling, risk management, financial crime, and governance’.

Ollie Castleman, Head of Hub88, said: “With sweepstakes booming in popularity, especially in the US, we are thrilled to announce this collaboration with Legendz, a brand that we are certain will quickly make headway in the social casino space. The partnership underlines the versatility of our content, being as appealing when played for free as for real money.”

Charlie McMaw, Managing Director at Legendz, said: “This partnership allows us to give our players access to the best social casino experience through Hub88’s world-class platform. It’s about bringing faster, smoother, and more exciting gameplay to our customers, while we maintain our commitment to high-quality, entertaining, and secure gaming, and Hub88 can support us in achieving that.”

PH Resorts partners with EEI to restart Emerald Bay development

Philippine tycoon Dennis Uy’s PH Resorts Group Holdings has partnered with EEI Corporation to revive the long-stalled Emerald Bay Resort and Casino project in Mactan, Cebu.

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Apollo Global Management, behind IGT Gaming/Everi acquisition, to be joining S&P 500 index

The firm behind the $6.3 billion acquisition of the International Game Technology (IGT)’s Gaming & Digital Arm and Everi Holdings, Apollo Global Management, is going to be joining the S&P 500 index.

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Okada Manila operator no longer pursuing Philippine Stock Exchange listing

The operator of Okada Manila, Universal Entertainment, has announced that its subsidiary Tiger Resort, Leisure and Entertainment (TRLEI) will not be seeking a listing on the Philippine Stock Exchange.

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NBA to bring pre-season games to Macau annually in 5-year deal with Sands

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Chinese lottery sales rise 9% Y-o-Y in Jan-Sept

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SJM Resorts proudly supports the “41st Walk for a Million”

Macau gaming operator, SJM Resorts, S.A. (“SJM”) has announced its support for the “41st Walk for a Million” by organizing a team of over 3,200 participants, which included team members, their families, and friends, to partake in the charity walk in Macau.

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Hector Fernandez named CEO of combined IGT Gaming/Everi enterprise, starting 4Q25

Aristocrat Gaming’s former CEO Hector Fernandez left the company to assume a role as CEO for the combined International Game Technology (IGT) and Everi enterprise.

Wazdan expands European footprint through Volcanobet partnership

Wazdan, the leading gain-focused developer, has reaffirmed its impressive European presence through its latest tie-up with Montenegrin operator Volcanobet.

Table of Contents

Queensland authorities defer Star Gold Coast casino license suspension decision to March 2025

The Queensland government has decided to defer the decision on the suspension of The Star Gold Coast’s casino license until March 31^st of 2025.

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Philippine tycoon Dennis Uy’s PH Resorts Group Holdings has partnered with EEI Corporation to revive the long-stalled Emerald Bay Resort and Casino project in Mactan, Cebu.

Table of Contents

The firm behind the $6.3 billion acquisition of the International Game Technology (IGT)’s Gaming & Digital Arm and Everi Holdings, Apollo Global Management, is going to be joining the S&P 500 index.

Table of Contents

The operator of Okada Manila, Universal Entertainment, has announced that its subsidiary Tiger Resort, Leisure and Entertainment (TRLEI) will not be seeking a listing on the Philippine Stock Exchange.

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Macau gaming operator, SJM Resorts, S.A. (“SJM”) has announced its support for the “41st Walk for a Million” by organizing a team of over 3,200 participants, which included team members, their families, and friends, to partake in the charity walk in Macau.

Table of Contents

Aristocrat Gaming’s former CEO Hector Fernandez left the company to assume a role as CEO for the combined International Game Technology (IGT) and Everi enterprise.

Wazdan, the leading gain-focused developer, has reaffirmed its impressive European presence through its latest tie-up with Montenegrin operator Volcanobet.

Table of Contents

The Queensland government has decided to defer the decision on the suspension of The Star Gold Coast’s casino license until March 31st of 2025.

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Hub88, an agile integration platform providing a single API for all online gaming operations, has launched its content offering with the innovative social casino Legendz, marking the brand’s debut in 43 states across the US.

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ENQUIRIES & SUBSCRIPTIONS

CONTACTS

The Queensland government has decided to defer the decision on the suspension of The Star Gold Coast’s casino license until March 31^st of 2025.