SunTrust, Suncity Group’s subsidiary in the Philippines, has announced that operations at its Westside City Project will start in 2023.
The Philipines.- Suncity has announced that it still expects to open its new Manila casino in the Philippines in 2023 despite the impact of the Covid-19 pandemic. The company said in its nine-month performance report that since the resort is still under construction, the Covid-19 pandemic and multiple countermeasures have little impact on its business.
According to SunTrust, Suncity Group’s subsidiary in the Philippines, for the nine months to the end of September, the company’s travel-related business had a net loss of PHP1.37bn, an increase from PHP281.2m in the same period last year.
The group said it does not expect any cash flow or liquidity issues and that it has not breached the contract or breached any obligation to demand its payment. As of the end of the reporting period, it had a capital commitment of PHP25.1bn related to hotel construction.
Suntrust signed a joint development agreement with Westside City Resorts World in October 2019, under which it agreed to fund the development and construction costs of the resort and will be appointed as the sole operator and manager of the operation.
The project will include 400 gaming tables and 1,200 slot machines, 400 five-star hotel rooms and 960 parking spaces covering 44,000 square metres.
Last year, the operator designated local construction giant Megawide as the main contractor for the basement, podium and tower of the main casino hotel.