{"id":777018015,"date":"2024-08-09T10:08:42","date_gmt":"2024-08-09T13:08:42","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777018015"},"modified":"2026-04-22T07:19:01","modified_gmt":"2026-04-22T10:19:01","slug":"suntrust-resort-posts-net-loss-of-us9-68m-for-q2","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/suntrust-resort-posts-net-loss-of-us9-68m-for-q2","title":{"rendered":"Suntrust Resort posts net loss of US$9.68m for Q2"},"content":{"rendered":"\n<p>The loss was up 238.4 per cent when compared to the same quarter of 2023.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>The Philippines.- <strong>Suntrust Resort Holdings<\/strong>, a subsidiary of <strong>LET Group Holdings<\/strong>, has shared its financial results&nbsp;for the second quarter of the year. The company posted a net loss of PHP555.51m (US$9.68m), down 31.55 per cent when compared to the first quarter of the year but up 238.4 per cent when compared to the same quarter of 2023.<\/p>\n\n\n\n<p>As the group&#8217;s only activity at present is the development of <a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/suntrust-extends-deadline-for-westside-city-casino-funding\" rel=\"noreferrer noopener\">its&nbsp;Westside City project<\/a>, it posted a net revenue of just PHP3,121 (US$54) for the second quarter of the year. Operating expenses halved quarter-to-quarter, totalling PHP179.33m (US$3.12m).<\/p>\n\n\n\n<p>The Westside City Project\u00a0is now expected\u00a0to open in\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/westside-city-casino-opening-delayed\" target=\"_blank\" rel=\"noreferrer noopener\">the first quarter of 2025<\/a>. The US$1bn project\u00a0is set\u00a0to include\u00a0400 gaming tables and 1,200 slot machines, 450 five-star hotel rooms and 960 parking spaces.<\/p>\n\n\n\n<p>According to the company, as of June 30, the construction of structural work and major fa\u00e7ade systems up to roof level have been completed. The mechanical, electrical plumbing and fire protection systems in major plant rooms have been substantially completed and part of the system has commenced testing and commissioning.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The loss was up 238.4 per cent when compared to the same quarter of 2023.<\/p>\n","protected":false},"author":176,"featured_media":8437,"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 Resort Holdings reported a Q2 net loss of PHP555.51m, a 238.4% increase year-over-year, with minimal revenue as its sole activity remains the Westside City project development. The US$1bn integrated resort in the Philippines, featuring 400 gaming tables and 1,200 slot machines, is now slated for a Q1 2025 opening, with significant construction milestones achieved.","focusai_entities":"Suntrust Resort Holdings, LET Group Holdings","focusai_location":"Philippines","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":"Revised Capex Forecast?","query":"What is the revised capital expenditure forecast for the Westside City project leading up to its Q1 2025 opening, and how will it be funded given the reported net losses?"},{"label":"GGR Impact Analysis?","query":"What is the projected Gross Gaming Revenue (GGR) contribution of Westside City to the Philippine market upon full operationalization, and how will it impact existing operators' market share?"}],"footnotes":""},"categories":[163,16333],"tags":[24042],"class_list":["post-777018015","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-suntrust-resort"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018015","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=777018015"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018015\/revisions"}],"predecessor-version":[{"id":777018032,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018015\/revisions\/777018032"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8437"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777018015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777018015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777018015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}