{"id":777026769,"date":"2025-05-22T10:57:12","date_gmt":"2025-05-22T13:57:12","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777026769"},"modified":"2026-04-21T22:43:51","modified_gmt":"2026-04-22T01:43:51","slug":"suntrust-resort-sees-revenue-rise-in-q1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/suntrust-resort-sees-revenue-rise-in-q1","title":{"rendered":"Suntrust Resort sees revenue rise in Q1"},"content":{"rendered":"\n

The company recorded a revenue of PHP125.45m (US$2.25m).<\/p>\n\n\n\n\n\n\n\n

The Philippines.-\u00a0LET Group Holdings\u00a0<\/strong>has shared the financial results of Philippine subsidiary Suntrust Resort Holdings<\/strong>\u00a0for the first quarter. The company posted revenue of PHP125.45m (US$2.25m), compared to PHP0.003226m a year ago<\/a>, and a net loss of PHP84.33m (US$1.5m), an improvement of 67 per cent from a loss of PHP256.10m in the same quarter last year. <\/p>\n\n\n\n

The loss attributable to parent equity holders was similarly reported at PHP84.21m (US$1.5m). Total assets stood at PHP54.94bn (US$987m), up 1.34 per cent in year-on-year terms.<\/p>\n\n\n\n

In February, the company said development of\u00a0the Westside Project in the Philippines<\/a> was 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. The company said Tigre de Cristal<\/strong> 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

For full year 2024, the company posted a net loss of PHP1.09bn (US$18.68m), up by 212.3 per cent in year-on-year terms. It posted net revenue of just PHP372,000 (US$ 6,410). That\u2019s 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. <\/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 GGR rises slightly in March<\/a>\n\t\t\t\t<\/p>\n<\/p>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

The company recorded a revenue of PHP125.45m (US$2.25m).<\/p>\n","protected":false},"author":176,"featured_media":777022557,"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, a subsidiary of LET Group Holdings, reported Q1 revenue of PHP125.45m and a significantly reduced net loss, driven by the ongoing development of the US$1bn Westside Project in the Philippines. Concurrently, parent company LET Group Holdings faces substantial challenges with its Tigre de Cristal asset in Russia due to geopolitical factors, contributing to a significant full-year net loss and continued share trading suspension.","focusai_entities":"LET Group Holdings, Suntrust Resort Holdings, Tigre de Cristal","focusai_location":"Philippines, Russia, Ukraine","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Westside Project ROI","query":"What is the projected return on investment and payback period for the Westside Project, considering the current capital expenditure and market entry strategy in the Philippines?"},{"label":"Tigre de Cristal Strategy","query":"What are LET Group Holdings' strategic options and contingency plans for the Tigre de Cristal asset given the protracted geopolitical instability and its impact on operational viability and asset valuation?"}],"footnotes":""},"categories":[163,16333],"tags":[29,128,24042],"class_list":["post-777026769","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-casino","tag-philippines","tag-suntrust-resort"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777026769","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=777026769"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777026769\/revisions"}],"predecessor-version":[{"id":777026781,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777026769\/revisions\/777026781"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777022557"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777026769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777026769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777026769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}