Suntrust may seek PAGCOR online gaming accreditation
The Philippine casino developer could apply for a Gaming System Administrator licence ahead of Westside City’s opening.
The Philippines.- Suntrust Resort Holdings Inc. may seek to expand into the Philippines’ regulated online gaming sector. It says it’s considering applying for a Gaming System Administrator (GSA) accreditation from the Philippine Amusement and Gaming Corporation (PAGCOR) as it advances construction of its Westside City integrated resort.
At the company’s annual shareholders’ meeting, executives noted that obtaining a GSA accreditation would enable Suntrust to participate in the growing online gaming market by providing technology for licensed online casino operations. The accreditation would complement the land-based casino business planned at the Westside City development in Manila’s Entertainment City, adding another revenue stream ahead of the integrated resort’s full opening.
The company aims to improve its long-term financial outlook and restore positive shareholders’ equity following several years of development-related losses. Construction of the Westside City casino resort has experienced delays but construction is progressing on a project intended to provide 2,500 hotel rooms across three brands and more than 2,000 gaming machines and tables. The idea would be for a GSA licence to be in place before the resort opens.
