PH Resorts has announced that it now plans to complete the first phase of its Cebu IR development by the third quarter of 2022.
The Philippines.- PH Resorts has again decided to push back the launch date for its Cebu IR, Emerald Bay.
The company had originall hoped for a soft launch by the end of this year. That was put back to the second quarter of 2022 due to the impact of the Covid-19 pandemic. It’s now put the completion of phase 1 back to the third quarter of 2022.
The second phase, which will add more than 700 electronic gaming machines and 146 additional gaming tables, is now slated for completion by 2026.
The second phase will also include space for meetings and exhibitions and a second five-star hotel.
According to PH Resorts, the Emerald Bay IR first phase development has an estimated cost of US$238.5m. The second phase has a budget of US$465.4m.