PH Resorts pushing for early opening of Cebu resort

Thursday 23rd of July 2020

PH Resorts Group Holdings says it is pushing to open its Emerald Bay resort in late 2021, with the full Phase 1 offering to be available by the second quarter of 2022.

The company, which is the gaming and tourism unit of the Udenna Group, released a statement after its annual general meeting on Wednesday.

“Despite the challenges of COVID19 we are diligently working on the completion of the first phase of Emerald Bay,” Chief Operating Officer Jose Angel Sueiro said. “Our team continues working to ensure to reduce project costs without sacrificing quality. Our focus is getting Emerald Bay to open on time without cutting corners.”

Emerald Bay will have a total of 146 gaming tables and 729 electronic gaming machines (EGMs) as well as 780 hotel room bays and 5 villas.

In the early opening phase it will have 122 gaming tables for mass, premium mass and junkets, 600 EGMs and 270 hotel rooms.

The group recently filed for a P1.22 billion follow-on offer of common shares in part to fund the completion of the first stage of the resort.

“We remain very committed to the long-term growth story of tourism and gaming in the Philippines. While many challenges remain, we are confident of overcoming them as we see some recovery by the time the first phase of Emerald Bay is completed and opened to the public,” said Chairman Dennis Uy.