{"id":777026087,"date":"2025-05-06T09:48:09","date_gmt":"2025-05-06T12:48:09","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777026087"},"modified":"2026-04-21T23:15:41","modified_gmt":"2026-04-22T02:15:41","slug":"chinabank-reportedly-open-to-buyers-for-emerald-bay-resort-land","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/chinabank-reportedly-open-to-buyers-for-emerald-bay-resort-land","title":{"rendered":"Chinabank reportedly open to buyers for Emerald Bay Resort land"},"content":{"rendered":"\n

Development of the Philippine resort was suspended during the Covid-19 pandemic. <\/p>\n\n\n\n\n\n\n\n

The Philippines.- China Banking Corp. (Chinabank) <\/strong>is reportedly looking to sell the land where the unfinished Emerald Bay Resort<\/a> in Cebu is located following the expiry of its lease agreement with PH Resorts Group Holdings<\/strong>. According to reports, Chinabank chairman Hans Sy said the company would start opening up to people who showed interest.<\/p>\n\n\n\n

PH Resorts obtained a provisional gaming licence from the\u00a0Philippine Amusement and Gaming Corporation (PAGCOR)<\/strong> for the resort on Mactan Island, Lapu Lapu City, Cebu, in 2017. However, development was suspended during the Covid-19 pandemic.\u00a0<\/p>\n\n\n

\n
\"Emerald
Emerald Bay Resort.<\/figcaption><\/figure>\n<\/div>\n\n\n

In October 2023, PH Resorts’ subsidiaries, Lapulapu Leisure (LLI) and Lapulapu Land (LLC), restructured their outstanding debt with Chinabank via a sale and leaseback deal. Under the terms, the companies had an option to repurchase the property by March 31, 2025, with the condition of covering associated taxes, legal expenses and related costs. That option has expired without renewal.<\/p>\n\n\n\n

In its annual report, PH Resorts indicated that it would revisit the possibility of repurchasing the property. PH Resorts was discussing a possible partnership with EEI Corp to finance and complete construction of the Emerald Bay project following a Memorandum of Understanding (MoU)<\/a> signed by parent firm Udenna Corp. last December. But Sy has said Chinabank had no plans to renew the leaseback agreement. <\/p>\n\n\n\n

Talks with other potential partners in recent years, including Okada Group’s Tiger Resort Leisure & Entertainment Inc. (TRLEI)<\/a>, Bloomberry<\/a>, and Apple One, led to no final agreements.<\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t<\/p>\n

\n\t\t\t\t\tSee also:<\/span> Macau’s The 13 Hotel back on sale<\/a>\n\t\t\t\t<\/p>\n<\/p>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

Development of the Philippine resort was suspended during the Covid-19 pandemic.<\/p>\n","protected":false},"author":176,"featured_media":777006346,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Chinabank is reportedly moving to sell the land designated for the Emerald Bay Resort in Cebu, Philippines, following the expiration of PH Resorts Group Holdings' repurchase option on a prior sale and leaseback agreement. This development signals a potential divestment of a key asset for PH Resorts, which held a provisional gaming license for the site but suspended construction during the pandemic, despite previous discussions with various strategic partners.","focusai_entities":"China Banking Corp., Chinabank, PH Resorts Group Holdings, Philippine Amusement and Gaming Corporation, PAGCOR, Lapulapu Leisure, LLI, Lapulapu Land, LLC, EEI Corp, Udenna Corp., Okada Group, Tiger Resort Leisure & Entertainment Inc., TRLEI, Bloomberry, Apple One, Hans Sy","focusai_location":"The Philippines, Cebu, Mactan Island, Lapu Lapu City","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"PAGCOR License Status","query":"What is the current status of PH Resorts Group Holdings' provisional gaming license for Emerald Bay, and what are the regulatory implications for any prospective buyer of the land from Chinabank?"},{"label":"PH Resorts Financial Impact","query":"How will the non-repurchase of the Emerald Bay land and the associated debt restructuring impact PH Resorts Group Holdings' balance sheet, future capital raising capabilities, and its strategic positioning within the Philippine gaming market?"}],"footnotes":""},"categories":[157,16333],"tags":[29,24619,225],"class_list":["post-777026087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-casino","tag-finance","tag-legislation"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777026087","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=777026087"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777026087\/revisions"}],"predecessor-version":[{"id":777026098,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777026087\/revisions\/777026098"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777006346"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777026087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777026087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777026087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}