Universal Entertainment Corp is set to complete the Emerald Bay casino resort in the Philippines
The Emerald Bay project is being developed by the Philippine firm PH Resorts Group Holdings Inc. through its subsidiaries, Lapulapu Leisure and Lapulapu Land. In 2017, PH Resorts obtained a preliminary gaming license for the casino resort from the Philippine Amusement and Gaming Corporation. However, construction was halted due to the pandemic, necessitating additional investments.
Tiger Resort, Leisure and Entertainment Inc. (TRLEI), a subsidiary of Universal Entertainment that operates the Okada Manila casino resort, is expected to acquire a controlling stake in the Emerald Bay project. This was confirmed on Monday by TRLEI President and Chief Operating Officer Byron Yip. "This new venture aligns with our strategy to expand our presence in the Philippines, given our remarkable success with Okada Manila," he stated. Yip added that TRLEI looks forward to bringing its signature hospitality and exceptional service to this new and discerning market.
The Emerald Bay project features a large casino with over 700 gaming machines and 140 table games. The site will also include a five-star hotel with 642 rooms, 18 restaurants, conference facilities, retail spaces, and four swimming pools.
Dennis Uy, chairman of PH Resorts, expressed on Monday that in partnership with Okada Manila, they hope to transform the Emerald Bay Resort into a symbol and catalyst for the development of Cebu as a central tourist market in the Philippines.
Notably, Fitch Ratings forecasts a 10% growth in casino revenues in Singapore for 2024.
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