{"id":777025185,"date":"2025-04-11T09:47:09","date_gmt":"2025-04-11T12:47:09","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777025185"},"modified":"2026-04-21T23:56:07","modified_gmt":"2026-04-22T02:56:07","slug":"suntrust-resort-net-loss-widens","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/suntrust-resort-net-loss-widens","title":{"rendered":"Suntrust Resort net loss widens"},"content":{"rendered":"\n

The loss grew by 212.3 per cent in year-on-year terms.<\/p>\n\n\n\n\n\n\n\n

The Philippines.-\u00a0Suntrust Resort Holdings<\/strong>, a subsidiary of\u00a0LET Group Holdings<\/strong>, has shared its financial results\u00a0for the year 2024. The company posted a net loss of PHP1.09bn (US$18.68m), up by 212.3 per cent in year-on-year terms.<\/p>\n\n\n\n

It posted net revenue of just PHP372,000 (US$ 6,410). That’s an increase of 273.6 per cent year-on-year. Operating expenses were PHP706m (US$12.14m), up 78.4 per cent year-on-year.<\/p>\n\n\n\n

Trading in its shares remains suspended until it has met resumption guidance. The suspension has been in place since February 14, 2024.\u00a0<\/p>\n\n\n\n

In a separate statement, Suntrust said construction of the main hotel-casino at the Westside Project in the Philippines<\/a> is underway and progressing as planned. 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. It is expected to open by the end of the year.<\/p>\n\n\n\n

Meanwhile, the company said Tigre de Cristal in Russia continues to face significant challenges and uncertainties due to the conflict between Russia and Ukraine.<\/p>\n\n\n

\n
\"The
The Tigre de Cristal casino resort in Russia.<\/figcaption><\/figure>\n<\/div>\n\n\n

Suntrust said it continues to “actively seek opportunities to divest its non-core business of property development in Niseko and Miyako Island of Japan, a strategic move intended to enhance the Group’s cash flow, despite no buyer has been secured as of yet.”<\/p>\n\n\n\n

See also: <\/strong>Suntrust announces the appointment of a new CFO<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The loss grew by 212.3 per cent in year-on-year terms.<\/p>\n","protected":false},"author":176,"featured_media":15167,"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 significant net loss of PHP1.09bn for 2024, a 212.3% increase year-on-year, alongside minimal revenue, while its shares remain suspended. The company is progressing with its US$1bn Westside Project in the Philippines, expected to open by year-end, but faces ongoing challenges with its Tigre de Cristal asset in Russia due to geopolitical conflict. Suntrust is also actively seeking to divest non-core property assets in Japan to improve cash flow.","focusai_entities":"Suntrust Resort Holdings, LET Group Holdings, Tigre de Cristal","focusai_location":"Philippines, Russia, Ukraine, Niseko, Miyako Island, Japan","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Westside Project Funding","query":"Given the substantial net loss and minimal revenue, what is the current funding status and capital expenditure plan for the Westside Project, and how will the company address potential liquidity gaps prior to its operational launch?"},{"label":"Share Resumption Criteria","query":"What specific resumption guidance criteria must Suntrust Resort Holdings satisfy to lift the trading suspension on its shares, and what is the projected timeline for meeting these requirements?"}],"footnotes":""},"categories":[163,16333],"tags":[29,24197,24693],"class_list":["post-777025185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-casino","tag-let-group-holdings","tag-suntrust-resort-holdings"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777025185","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=777025185"}],"version-history":[{"count":6,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777025185\/revisions"}],"predecessor-version":[{"id":777025215,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777025185\/revisions\/777025215"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/15167"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777025185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777025185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777025185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}