PH Resorts to pump in Billion for two casinos in the Philippines
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PH Resorts Group Holdings has announced plans to invest around $1 billion for starting two casino resorts in the Philippines.
The company, previously known as Philippine H20 Ventures Inc., is a subsidiary of Udenna Group, owned by Chinese-Filipino businessman Dennis Uy.
PH Resorts will pump in $665 million to complete The Emerald, an integrated casino resort currently under development in Punta Engaño on the Mactan Island in Cebu.
The casino is likely to be launched in the third quarter of 2020. The resort will be located on a 13.5-hectare site, which will have a 7,585-square-meter casino floor with 1,186 slot machines and 146 gaming tables, an 838-room five-star hotel with five villas, 8,000-square-meter retail centre, food and beverage facilities, and a convention centre in the first phase.
In the second phase, 9,400 square meters of gaming space, a 1,300-room five-star hotel, food and beverage facilities, and retail space will be added.
PH Resorts is going to start its second resort in the Clark Freeport Zone by investing $276.6 million. The resort will feature 600 gaming machines, 100 table games, several hotels, a dining complex, and retail space. Construction is expected to commence in the first quarter of 2019. Developers target 2022 opening of the property.
Source: Latest News on European Gaming Media Network
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