PH Resorts Chairman Dennis Uy said the company had reached a “significant milestone” towards the opening of its Emerald Bay integrated resort on Mactan Island after the Securities and Exchange Commission gave pre-effective approval for a P1.12 billion ($23 million) follow on share offer.
PH Resorts Group Holdings says it is pushing to open its Emerald Bay resort in late 2021, with the full first phase offering then to be available by the second quarter of 2022.
Megawide Construction Corp has dropped a plan to develop a casino on Cebu island, though will push ahead with plans for three hotels, local media reports.
Privately owned Udenna Corp is planning to shift its hotel and casino assets into a listed unit as it pushes further into the tourism sector in the Philippines.
The Udenna Group plans to invest ups to $5 billion over the next ten years on Clark Global City, which will include a casino and entertainment complex, local media reported Chairman and CEO Dennis Uy as saying.
The Udenna Group, developer of the Lapu-Lapu Leisure Mactan integrated resort, is set to complete the funding requirements needed for development, Business World reports. “The debt component is given by China Bank. They are very supportive,” Dennis A. Uy said in an interview with Business World, adding that the agreement will be signed soon. In […]