{"id":32709,"date":"2022-08-17T02:54:07","date_gmt":"2022-08-17T05:54:07","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=32709"},"modified":"2026-04-23T05:49:30","modified_gmt":"2026-04-23T08:49:30","slug":"ph-resorts-posts-net-loss-of-us4m-for-q2","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/ph-resorts-posts-net-loss-of-us4m-for-q2","title":{"rendered":"PH Resorts posts net loss of US$4m for Q2"},"content":{"rendered":"\n

The group had no net operating revenue for the first six months of 2022 due to the temporary closure of the Donatela Resort & Sanctuary.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- PH Resorts Group Holdings Inc shared its second-quarter results. It’s reported a\u00a0net loss of PHP224m (US$4m)<\/strong>.\u00a0That’s nearly twofold higher than its loss of PHP95m (US$1.7m) in the second quarter of the year 2021.<\/p>\n\n\n\n

The casino operator was heavily affected by the temporary closure of the Donatela Resort & Sanctuary <\/strong>due to the Covid-19 pandemic. As a result, the group had no net operating revenue for the first six months of 2022.<\/p>\n\n\n\n

The company said: \u201cWith the continuing resumption of both domestic and international flights and the general reopening of the economy, the company is pursuing plans to reopen Donatela by the start of the fourth quarter of the year<\/strong>.\u201d<\/p>\n\n\n\n

Due to the lack of operations, the company’s operating loss narrowed down to PHP39m (US$0.7m). For the first three months of the year,\u00a0PH Resorts Group<\/a>\u00a0had reported a loss of PHP109.1m (US$2m)<\/strong>, up from PHP80.9m (US$1.5m) in the previous quarter.<\/p>\n\n\n\n

The firm is currently developing the\u00a0Emerald Bay integrated resort in Cebu<\/a>, which is due to open its first phase in early 2023.\u00a0During the results presentation, the company said it was in ongoing negotiations with\u00a0Bloomberry Resorts Corp\u00a0<\/strong>to invest in PH Resorts units. PH Resorts said it received a “deposit payable” of PHP1bn from Bloomberry Resorts as negotiations between the two parties continued.\u00a0<\/p>\n\n\n\n

Bloomberry Resorts<\/a>\u00a0had said in a May filing that it had signed a non-binding agreement on the potential investment. However, PH Resorts noted that the term sheet is subject to several conditions prior to closing, including “execution of a mutually acceptable definitive agreement; regulatory approval; creditor approval; completion of audited financial statements; corporate approval; due diligence. investigative cooperation”. It said the payment method and contract timing “are still being finalized”.<\/p>\n","protected":false},"excerpt":{"rendered":"

The group had no net operating revenue for the first six months of 2022 due to the temporary closure of the Donatela Resort & Sanctuary.<\/p>\n","protected":false},"author":176,"featured_media":18122,"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 Inc. reported a significant net loss increase in Q2 2022, primarily attributed to the temporary closure of its Donatela Resort & Sanctuary, resulting in no H1 2022 operating revenue. Concurrently, the company is advancing the Emerald Bay integrated resort development and is engaged in ongoing, conditional negotiations with Bloomberry Resorts Corp for a strategic investment, having received a PHP1bn deposit.","focusai_entities":"PH Resorts Group Holdings Inc., Donatela Resort & Sanctuary, Bloomberry Resorts Corp, Emerald Bay","focusai_location":"The Philippines, Cebu","focusai_target_profile":"ceo_executive (0.9), regulator (0.75), compliance_legal (0.8), operator_casino (0.85), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Bloomberry Deal Conditions?","query":"What specific regulatory and creditor approvals are outstanding for the Bloomberry Resorts Corp investment in PH Resorts Group, and what is the anticipated timeline for their resolution?"},{"label":"Emerald Bay Development Impact?","query":"How will the phased opening of the Emerald Bay integrated resort in Cebu impact PH Resorts Group's GGR and NGR projections for 2023 and beyond, particularly given the current operational challenges?"}],"footnotes":""},"categories":[157,16333],"tags":[],"class_list":["post-32709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32709","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=32709"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32709\/revisions"}],"predecessor-version":[{"id":32739,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32709\/revisions\/32739"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18122"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=32709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=32709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=32709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}