PH Resorts Group Holdings, Inc., a leader in the gaming and tourism industry under the Udenna Group, has announced a collaboration with Tiger Resort Leisure & Entertainment, Inc (TRLEI) to complete the Emerald Bay Resort and Casino in Mactan, Cebu. This partnership marks a significant step in the development of the partially completed project.
TRLEI, known for managing the Okada Manila integrated complex, is set to bring its expertise to Cebu. Byron Yip, President and COO of TRLEI, emphasized the strategic importance of this venture, aiming to replicate their success in Manila by introducing high-quality hospitality and service in Mactan.
The project envisions an expansive integrated resort on Mactan Island. Plans include a five-star hotel adjacent to a picturesque 300-meter beachfront, two 15-storey towers housing 642 rooms, and diverse amenities like four pools, 18 food and beverage outlets, retail spaces, and extensive conference and exhibition facilities. A highlight of the resort will be its large gaming floor, featuring over 700 electronic gaming machines and more than 140 tables.
Dennis A. Uy, Chairman of PH Resorts, views the partnership as a transformative opportunity for Cebu, aiming to establish Emerald Bay Resort as a prominent symbol in the Visayan tourism market. Raymundo Martin M. Escalona, President and CEO of PH Resorts, also expressed optimism about the potential synergy and mutual benefits arising from this collaboration.
The agreement involves TRLEI acquiring a majority stake in the Emerald Bay project, subject to certain conditions including the finalization of a definitive agreement and necessary governmental approvals.
The details of the transaction will be disclosed after finalizing the definitive agreements, expected by July 2024. The partnership, advised by CBRE Securities, represents a significant development in the Philippine tourism industry, especially for the region of Cebu.