preliminary deal with PH Travel and Leisure Holdings Corporation<\/a>, a subsidiary of Dennis Uy\u2019s PH Resorts Group Holdings (PHR), to acquire a majority stake in the stalled resort.<\/p>\n\n\n\n\u201cWe just started to negotiate with them,” he said. It will take several months to see the result of the negotiations. We are excited for the process of the negotiation. We are going through due diligence.”<\/p>\n\n\n\n
\u201cIf the negotiation is successful, then we will be very happy,\u201d he added. <\/p>\n\n\n\n
TRLEI, which manages the\u00a0Okada Manila resort<\/strong>, intends to buy stakes in two of PH Travel and Leisure Holdings\u2019 subsidiaries \u2013 Lapulapu Leisure and Lapulapu Land. Subject to the agreed conditions, a definitive agreement will be made\u00a0by July 2024<\/strong>. The development and construction of the resort will proceed with the aim of opening in 2026.<\/p>\n\n\n\nIn 2017, PHR obtained a provisional gaming licence from the Philippine Amusement and Gaming Corporation (PAGCOR)<\/strong> for the Emerald Bay Resort, which is located on Mactan Island, Lapu Lapu City, Cebu. Development was suspended during the Covid pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"TRLEI is going through due diligence on a deal with PH Travel and Leisure Holdings Corporation.<\/p>\n","protected":false},"author":226,"featured_media":8212,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"TRLEI, manager of Okada Manila, is conducting due diligence for a potential acquisition of a majority stake in the stalled Emerald Bay Resort project from PH Travel and Leisure Holdings Corporation. This strategic move, if successful with a definitive agreement by July 2024, aims to revive the integrated resort development on Mactan Island for a 2026 opening.","focusai_entities":"TRLEI, PH Travel and Leisure Holdings Corporation, Kenji Sugiyama, Universal Entertainment Corporation, Tiger Resort, Leisure, and Entertainment, PH Resorts Group Holdings (PHR), Dennis Uy, Okada Manila, Lapulapu Leisure, Lapulapu Land, Philippine Amusement and Gaming Corporation (PAGCOR)","focusai_location":"Philippines, Mactan Island, Lapu Lapu City, Cebu","focusai_target_profile":"ceo_executive (1.0), regulator (0.9), compliance_legal (0.9), operator_casino (1.0), affiliate_publisher (0.7), product_ux (0.7), tech_data (0.7), marketing_crm (0.7), payments_fraud_aml (0.7), investor_analyst (1.0), supplier_vendor (0.9), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Impact on PHR Valuation","query":"What are the projected financial implications for PH Resorts Group Holdings (PHR) and its shareholders if TRLEI's acquisition of a majority stake in Emerald Bay Resort proceeds, particularly concerning its debt restructuring and future capital expenditure requirements?"},{"label":"Regulatory Approval Timeline","query":"Given the provisional gaming licence held by PHR for Emerald Bay, what specific regulatory approvals from PAGCOR are required for the change of control to TRLEI, and what is the anticipated timeline for securing these?"}],"footnotes":""},"categories":[157,16333],"tags":[],"class_list":["post-777011979","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\/777011979","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\/226"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777011979"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011979\/revisions"}],"predecessor-version":[{"id":777011984,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011979\/revisions\/777011984"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8212"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777011979"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777011979"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777011979"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}