PH Resorts aims to finalise Emerald Bay sale by July

PH Resorts said negotiations with Okada Group are progressing.

The Philippines.- PH Resorts Group Holdings has denied a breakdown in negotiations between the company and the Okada Group regarding the sale of the Emerald Bay Resort and Casino project. It said it is working to reach an agreement by July.

It said: “The report that there is a disagreement on commercial terms as there are “unrealistic terms” set by the selling party is largely unfounded and not even part of the current discussions between the relevant parties.”

Last December, Tiger Resort, Leisure, and Entertainment (TRLEI) reached a preliminary deal with PH Travel and Leisure Holdings Corporation, a subsidiary of PH Resorts Group Holdings, to acquire a majority stake in the Emerald Bay Resort, a planned five-star integrated resort in Cebu. The deal would allow TRLEI to expand beyond Okada Manila in Parañaque.