Privately owned Udenna Corp., led by Philippine businessman Dennis Uy, will shift its hotel and casino assets to a listed unit called PH Resorts Group Holdings, formerly Philippine H2O Ventures. The name change was approved by shareholders last month. The company, which is now 62 percent owned by Udenna, reflects an increased focus on the hospitality and gaming sectors.
“As we foray deeper into the tourism sector, we hope to usher in a new era of growth for our shareholders,” Uy said. “At the same time, we look forward to supporting the development of the tourism sector, which serves as one of our economy’s growth pillars.” Udenna owns two integrate resort and casino projects, on Mactan on Cebu Island and in Clark Global City in Pampanga.
