Universal Ent to invest in Dennis Uy’s Emerald Bay Resort project
TRLEI has reached a preliminary deal with PH Travel and Leisure Holdings Corporation.
The Philippines.- Universal Entertainment Corporation has said its subsidiary Tiger Resort, Leisure, and Entertainment (TRLEI) has reached a preliminary deal with PH Travel and Leisure Holdings Corporation, a subsidiary of Dennis Uy’s PH Resorts Group Holdings (PHR), to acquire a majority stake in the stalled Emerald Bay Resort in Cebu.
TRLEI, which manages the Okada Manila resort, will buy stakes in two of PH Travel and Leisure Holdings’ subsidiaries – Lapulapu Leisure and Lapulapu Land. Subject to agreed conditions, a definitive agreement will be made by July 2024, and the development and construction of the resort will proceed with the aim of opening in 2026.
In 2017, PHR obtained a provisional gaming licence from the Philippine Amusement and Gaming Corporation (PAGCOR) for the Emerald Bay Resort, which is located on Mactan Island, Lapu Lapu City, Cebu. Development was suspended during the Covid pandemic.
