{"id":777003618,"date":"2023-03-23T13:26:38","date_gmt":"2023-03-23T16:26:38","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777003618"},"modified":"2026-04-22T23:29:52","modified_gmt":"2026-04-23T02:29:52","slug":"bloomberry-backs-out-of-cebu-and-clark-casinos-in-the-philippines","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/bloomberry-backs-out-of-cebu-and-clark-casinos-in-the-philippines","title":{"rendered":"Bloomberry backs out of Cebu and Clark casinos in the Philippines"},"content":{"rendered":"\n<p>Bloomberry Resorts has withdrawn its proposed investment in the Emerald Bay project and Clark casino project after conducting due diligence tests.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>The Philippines.-&nbsp;Bloomberry Resorts, the operator of Solaire Resort, has announced that it has terminated its plans to invest in the&nbsp;<strong>Emerald Bay project<\/strong>&nbsp;in Cebu and<strong>&nbsp;a casino project in Clark<\/strong>. It said the reason for the decision was the results of due diligence on the target companies and projects. It has not provided further details.<\/p>\n\n\n\n<p>Last May, Bloomberry had entered into a term sheet with a PH Resorts Group subsidiary, PH Travel and Leisure Holdings Corp, to consider a possible investment in Lapulapu Leisure Inc, the company behind the two projects. Its decision to back out casts doubts over the future of the Emerald Bay Project, which was originally slated to open this year.&nbsp;<\/p>\n\n\n\n<p>PH Resorts Group has announced plans for over 120 gaming tables, 600 electronic gaming machines, and 270 hotel rooms in the project&#8217;s initial phase, with further expansion planned. Bloomberry&#8217;s decision could be a setback for the company, which had to delay the opening of Emerald Bay&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/ph-resorts-postpones-cebu-ir-first-phase-opening-to-q1-2023\" target=\"_blank\">due to the pandemic<\/a>&nbsp;and construction issues.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberry Resorts has withdrawn its proposed investment in the Emerald Bay project and Clark casino project after conducting due diligence tests.<\/p>\n","protected":false},"author":176,"featured_media":20685,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Bloomberry Resorts has terminated its proposed investment in the Emerald Bay and Clark casino projects following due diligence findings. This decision, impacting PH Resorts Group's subsidiaries, casts significant doubt on the future development and operational timeline of the Emerald Bay integrated resort, which had planned extensive gaming and hospitality facilities.","focusai_entities":"Bloomberry Resorts, Solaire Resort, PH Resorts Group, PH Travel and Leisure Holdings Corp, Lapulapu Leisure Inc","focusai_location":"Philippines, Cebu, Clark","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Due Diligence Findings","query":"What specific material adverse findings from Bloomberry's due diligence led to the termination of the investment in Emerald Bay and Clark projects, and what are the implications for future capital markets activity in the region?"},{"label":"PH Resorts' Next Steps","query":"How does PH Resorts Group plan to secure alternative financing or strategic partners to ensure the completion and operational launch of the Emerald Bay project following Bloomberry's withdrawal, and what is the revised timeline for market entry?"}],"footnotes":""},"categories":[157,16333],"tags":[],"class_list":["post-777003618","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\/777003618","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=777003618"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003618\/revisions"}],"predecessor-version":[{"id":777003646,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003618\/revisions\/777003646"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20685"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777003618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777003618"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777003618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}