The Westside City Project, an integrated resort in Manila’s Entertainment City developed by Suntrust Resort Holdings, is planning to open its Main Hotel Casino in the first quarter of 2025.
According to a filing to the Philippine Stock Exchange (PSE), the latest update from Suntrust Resort Holdings indicates a delay of at least three months from the initially expected commencement of operations in the fourth quarter of 2024.
It is noted in the annual report that, as of December 31, 2023, ‘the construction of structural work and tower facade up to the roof level have been completed (except facade at the middle portion of the skybridge).’
‘The major mechanical, electrical, and plumbing equipment have been delivered to the construction site and are undergoing installation. Architectural builders and fit-out works, and external civil works are in progress. Management aims to commence the operations of a 5-star hotel and casino establishment (Main Hotel Casino) in the first quarter of 2025.’
Meanwhile, the company also notes that they expect ‘competition in the Philippines to be intense as multiple integrated resort-casino projects have been approved and/or are currently operating in the Philippines’.
‘The Entertainment City, where the Project Site is located, is continuously being developed into a casino hub in Manila. Furthermore, hotel, casino, and entertainment complex projects may also be approved elsewhere in the Philippines and in Asia. Competitive pressures in the Philippine gaming industry could affect the Main Hotel Casino’s business, financial condition, and results of operations.’
Westside City Project’s Main Hotel Casino will have 475 luxury hotel rooms and suites, a ballroom capable of accommodating 550 people with support facilities such as meeting rooms and a bridal room.
The property will also comprise a 1,000-seat and two 800-seat theaters, a grand opera house, a 3,000-seat performing arts theater, a mall composed of food and beverage and retail units, and four cinemas, along with a parking facility with over 1,000 slots.
The company notes that at the opening, the casino establishment will have 281 gaming tables, 1,126 slot machines, and 134 electronic table games for both the mass and VIP markets.
Loss narrows in 2023
Suntrust Resort Holdings is a subsidiary of the Hong Kong-listed LET Group. According to its latest financial update, Sunburst’s net loss in 2023 has been narrowed to PHP348.05 million ($6.18 million), down 37.5 percent annually.
This figure represents a decrease from the PHP557.05 million ($9.89 million) net loss registered in 2022.
