LET Group: Westside City Project remains on track
Suntrust Resort Holdings’ Manila hotel and casino project remains scheduled to open in 2024.
The Philippines.- LET Group Holdings, the controlling shareholder of Suntrust Resort Holdings, has announced that the construction of its Manila hotel and casino project is progressing as planned with no delays. The announcement was made in Suntrust’s annual report, which was published on Tuesday.
According to the report, there are no material events or uncertainties that might impact the group’s financial position, and it does not anticipate any cash flow or liquidity problems. While the company had originally hoped for a 2023 opening for its Westside City Project, the date was pushed back to 2024 last November.
By December 31, the structural work of the hotel and casino development had been completed up to Level 6, and façade works were in progress. The major mechanical, electrical, and plumbing equipment had been delivered to the construction site.
When complete, Westside City will be the fifth integrated resort in and around Manila’s Entertainment City precinct, joining resorts such as City of Dreams Manila, Newport World Resorts, Okada Manila, and Solaire Resort & Casino.
The US$1bn project is set to include 400 gaming tables and 1,200 slot machines, 450 five-star hotel rooms and 960 parking spaces covering 44,000 square metres. In addition to the hotel and casino, the company is also developing the Westside shopping mall and an opera house.
Last year, the Suncity Group rebranded itself as LET Group and Major Success Group acquired 5.018bn shares – approximately 75.25 per cent of all issued shares. The company controlled by Andrew Lo Kai Bong, a former business associate of ex-Macau junket boss Alvin Chau Cheok Wa, paid HK$0.069 (US$0.00892) per share after making an original offer of HK$0.0029 per share.
