Suntrust delays Manila hotel-casino opening
The company had previously targeted an opening for late 2024.
The Philippines.- Suntrust Resort Holdings has announced that it expects to start operations for its casino hotel in Manila in the fourth quarter of 2025. The update was part of Suntrust’s Quarterly Report for Q3, 2024.
Developed by Philippine conglomerate Alliance Global Group, the Westside City project has an estimated cost of around US$1bn for the construction of a casino hotel complex with 400 gaming tables and 1,200 slot machines, 450 five-star hotel rooms and 960 parking spaces covering 44,000 square metres. Suntrust had previously targeted the opening for late 2024.
The company said the construction of structural works and major facade systems up to the roof level has been completed. “The mechanical, electrical and plumbing and fire protection systems in major plantrooms have been substantially completed and part of the system has commenced testing and commissioning,” it said.
“Architectural builders and fit-out works, and external civil works are in progress. Management aims to commence the operations of a 5-star hotel and casino establishment (Main Hotel Casino) in the fourth quarter of 2025.”
In June, Suntrust Resort Holdings announced the mortgage of its assets and properties through an omnibus loan and security agreement. Following a special stockholders’ meeting, the company confirmed the agreement, which came a few days after securing a new loan facility from China Banking Corp. of up to PHP25.00bn (US$446.4m).
In May, Suntrust also disclosed that its board had approved a separate US$6m loan from a related party, controlled by the company’s chairman, Lo. The details of the financial agreement have not been disclosed and the company has not clarified how it plans to use the funds acquired.
