Dennis Uy Cebu casino license revoked
Inquirer
Pagcor revoked the Cebu casino license of Dennis Uy's PH Resorts Group Holdings due to project delays and financial issues.Summary
The Philippine Amusement and Gaming Corp. (Pagcor) has revoked the Cebu casino license of Dennis Uy-led PH Resorts Group Holdings Inc. (PHR) because the integrated resort and casino project in Mactan has not progressed. This decision also makes a potential partnership with EEI Corp. for the project “no longer feasible.” PHR downplayed the impact on its financial performance, stating the project hadn't begun operations. The project faced difficulties since construction began in 2017, particularly with financial obligations, leading to the termination of a deal with Okada Manila operator Tiger Resort Leisure and Entertainment Inc. and the sale of a beachfront property due to debt issues with China Banking Corp.
(Source：Inquirer)