PH Resorts reportedly in talks with various investors over Emerald Bay
The company said there are no executed agreements to finish the project.
The Philippines.- PH Resorts Group Holdings has revealed that it is in discussions with various investors about opinions for the completion of the Emerald Bay casino resort in Mactan, Cebu. However, there are no signed agreements in place.
The news follows the termination of a term sheet with the Okada Group’s Tiger Resort Leisure & Entertainment Inc. (TRLEI) a week after PH Resorts had denied that negotiations had halted. Universal Entertainment said closing conditions under the Term Sheet “were not or could not be fulfilled” and that it could not give more details due to confidentiality obligations.
PH Resorts obtained a provisional gaming licence from the Philippine Amusement and Gaming Corporation (PAGCOR) for the Emerald Bay Resort, located on Mactan Island, Lapu Lapu City, Cebu, in 2017. Development was suspended during the Covid pandemic. It was hoped that after the sale to TRLEI, work would be reactivated in time for an opening in 2026.
