The Philippines-listed gaming company has received the green light to raise funds to complete the first phase of the project.<\/p>\n\n\n\n\n\n\n\n
The Philippines.- The gaming operator PH Resorts Group Holdings\u00a0has received the green light from the Philippine Securities and Exchange Commission to start raising up to PHP756m (US$15.5m), via a follow-on offering of as many as 450m primary common shares at PHP1.68 per share.<\/p>\n\n\n\n
It will use the funds complete the first phase of Emerald Bay, a beachfront casino resort in Mactan, Cebu, which it expects to officially open in 2022. <\/p>\n\n\n\n
PH Resorts says it hopes for a soft opening by the end of 2021, and to then increase its gaming capacity and hotel rooms starting from 2022.<\/p>\n\n\n\n
Dennis A. Uy, owner of PH Resorts, said: \u201cThe feedback on early demand for this offer has been very encouraging and we believe that this shows investor confidence in a recovery in the country\u2019s tourism and gaming sector.\u201d<\/p>\n\n\n\n
The offer period for the allotment of shares started on Wednesday and runs until October 28. The company has set the target date for listing the shares for November 5.<\/p>\n\n\n\n
Emerald Bay will be constructed in two phases, with the first phase due to complete by the second quarter of 2022.<\/p>\n\n\n\n
It will feature 122 gaming tables for mass, premium mass and junket gambling, 600 electronic gaming machines and 270 hotel room bays. <\/p>\n","protected":false},"excerpt":{"rendered":"
The Philippines-listed gaming company has received the green light to raise funds to complete the first phase of the project.<\/p>\n","protected":false},"author":2,"featured_media":11165,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"PH Resorts Group Holdings has secured Philippine SEC approval for a PHP756m (US$15.5m) follow-on offering to fund the completion of Phase 1 of its Emerald Bay casino resort in Mactan, Cebu. This capital raise, targeting a Q2 2022 Phase 1 completion and 2022 official opening, signals investor confidence in the Philippine tourism and gaming sector's recovery.","focusai_entities":"PH Resorts Group Holdings, Philippine Securities and Exchange Commission, Dennis A. Uy","focusai_location":"Philippines, Mactan, Cebu","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Emerald Bay Funding Impact","query":"What is the projected impact of this PHP756m capital raise on PH Resorts Group Holdings' debt-to-equity ratio and its capacity to fund subsequent phases of the Emerald Bay development beyond Q2 2022?"},{"label":"Philippine Market Recovery","query":"How does the investor confidence cited by Dennis A. Uy align with broader macroeconomic indicators and tourism recovery forecasts for the Philippines, particularly concerning the premium mass and junket segments targeted by Emerald Bay?"}],"footnotes":""},"categories":[160,157,16333],"tags":[12436,128],"class_list":["post-11163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-business-news","category-south-east-asia-news","tag-casinos","tag-philippines"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11163","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=11163"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11163\/revisions"}],"predecessor-version":[{"id":11173,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11163\/revisions\/11173"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/11165"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=11163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=11163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=11163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}