Suntrust confirms 2024 opening for Manila casino hotel
Suntrust Resort Holdings says construction work on its casino hotel in Manila is on track for a 2024 opening.
The Philippines.- Suntrust Resort Holdings Inc, a subsidiary of LET Group Holdings has confirmed that construction work on its casino hotel in Manila had reached level 10 by the end of the first quarter. It says it’s still on track for a 2024 launch.
In its first-quarter results announcement, the company highlighted the completion of structural works and the ongoing progress of podium façade works. The casino hotel is a part of the Westside City project and is expected to offer 460 five-star rooms. It aims to cater to both mass-market and VIP segments. It has an estimated cost of approximately US$1bn.
Suntrust Resort has reported net income of PHP92.6m for the first quarter, compared to a loss of PHP194.3m last year. LET Group recently expressed its intention to secure financing through Suntrust Resort.