PH Resorts Group Holdings Inc., a Philippine-listed group controlled by Dennis Uy, announced in a filing last week that it expects to finish the Emerald Bay casino resort on Mactan Island, Cebu in the first quarter of 2022.
Construction on the facility at Lapu-Lapu began in December 2017, according to a filing by the company. PH Resorts’ units LapuLapu Land Corp and LapuLapu Leisure Inc. also are involved in the resort development, reported GGRAsia.
“The group expects to commence the hiring process in respect of the Emerald Bay’s gaming and hotel operations and fill a number of managerial and administrative roles within the company’s principal office in the fourth quarter of 2021,” said PH Resorts in a filing to the Philippine Stock Exchange.
Another PH Resorts unit, Clark Grand Leisure Corp., currently leases a site from Global Gateway Development Corp. where PH Resorts’ Clark Resort will be located. The latter will also offer gaming. “The project is currently in the design phase,” said PH Resorts in its first-quarter filing.
“Each of the group’s integrated resorts will be designed, planned and developed according to world-class industry standards. These are expected to expand the integrated tourism resort and casino offering in the Philippines.”
In October 2019, PH Resorts disclosed in a filing that it had obtained a US$43 million advance from a related entity toward the cost of developing Emerald Bay.
