PH Resorts Group has confirmed it has not given up on the provisional casino license provided by PAGCOR for its stalled Emerald Bay integrated resort project in Cebu. Despite concerns from its main lender about potentially selling the site, the company emphasised that the situation regarding its licenses in Clark and Cebu are separate.
The firm clarified that the revocation process for the Clark license, which they had voluntarily surrendered, does not impact their Cebu operations. With plans for Emerald Bay, they are still actively searching for investors to bring this project to life.
Key Points
- PH Resorts Group retains the provisional casino license for their Cebu resort, Emerald Bay.
- Despite losing the Clark license, the Cebu license remains intact and is viewed as separate.
- The CEO plans to sell the Cebu site amidst ongoing investment challenges.
- Emerald Bay aims to be a top-tier integrated resort but faces investor hurdles.
- The firm is actively seeking external funding to revive the stalled project.
Why should I read this?
If you’re interested in the current state of casino projects in the Philippines, this article offers a vital update on PH Resorts Group’s efforts to keep their ambitious Emerald Bay project afloat. With the potential ramifications for investors and the industry overall, catching up on this situation could save you some time while keeping you informed.
