{"id":13581,"date":"2021-01-20T22:09:22","date_gmt":"2021-01-20T22:09:22","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=13581"},"modified":"2026-04-23T22:32:23","modified_gmt":"2026-04-24T01:32:23","slug":"suncity-establishes-new-entity-for-manila-resort","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/suncity-establishes-new-entity-for-manila-resort","title":{"rendered":"Suncity establishes new entity for Manila resort"},"content":{"rendered":"\n

The new Suncity WC Hotel will be in charge of tourism operations as well as running the hotel and casino at the Manila resort.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- Suntrust Home Developers, a subsidiary of Hong Kong-based Suncity Group, has established a new entity in the Philippines to oversee its forthcoming Manila hotel and casino resort.<\/p>\n\n\n\n

The company has received the green light from the Securities and Exchange Commission (SEC) to incorporate Suncity WC Hotel Inc as a new wholly owned subsidiary with its own juridical personality.<\/p>\n\n\n\n

Suncity WC Hotel will run the new Manila resort as well as other tourism operations.<\/p>\n\n\n\n

Suntrust said in a filing that the new subsidiary\u2019s role would be: \u201cestablishing, constructing, operating, managing, and\/or maintaining hotels, health and wellness shops, cinema, car parks, entertainment centres, amusement centres and other tourism-related facilities\u201d within the Manila project.<\/p>\n\n\n\n

Suncity WC Hotel will also own, hold, lease, or sublease any real and personal property deemed necessary or convenient for the conduct of the businesses.<\/p>\n\n\n\n

Suntrust acquired all 10,138,200 shares in the company at a price of Php10.1m (US$211,000)<\/p>\n\n\n\n

The company has reached an agreement with the group Megawide for the construction of its Philippines casino<\/a><\/em><\/strong>, which is expected to open in 2022.<\/p>\n\n\n\n

Suntrust also raised Php12.9bn (US$268.5m) through convertible bonds for the development of the 5-star hotel and casino<\/a><\/em><\/strong> project at Manila Bayshore Integrated City in Paranaque City.<\/p>\n","protected":false},"excerpt":{"rendered":"

The new Suncity WC Hotel will be in charge of tourism operations as well as running the hotel and casino at the Manila resort.<\/p>\n","protected":false},"author":2,"featured_media":13583,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Suntrust Home Developers, a Suncity Group subsidiary, has incorporated Suncity WC Hotel Inc in the Philippines to manage its forthcoming Manila integrated resort, encompassing hotel, casino, and tourism operations. This strategic move follows SEC approval, a construction agreement with Megawide, and a significant Php12.9bn convertible bond issuance to fund the project, slated for a 2022 opening.","focusai_entities":"Suncity WC Hotel Inc, Suntrust Home Developers, Suncity Group, Securities and Exchange Commission (SEC), Megawide","focusai_location":"Philippines, Manila, Paranaque City","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), compliance_legal (0.85), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR Projections","query":"What is the projected Gross Gaming Revenue (GGR) contribution of the Manila Bayshore Integrated City resort to Suncity Group's overall portfolio upon its 2022 opening, and how does this align with regional market forecasts?"},{"label":"Licensing Framework","query":"How will the B2B\/B2C licensing framework in the Philippines accommodate the operational scope of Suncity WC Hotel Inc, particularly concerning its diverse tourism and gaming verticals, and what are the key regulatory compliance milestones?"}],"footnotes":""},"categories":[28,158,16333],"tags":[14017,23907,1427],"class_list":["post-13581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-slider-home","category-south-east-asia-news","tag-integrated-resort","tag-land-based-casino","tag-suncity"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/13581","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=13581"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/13581\/revisions"}],"predecessor-version":[{"id":13596,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/13581\/revisions\/13596"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/13583"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=13581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=13581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=13581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}