PAGCOR revokes PH Resorts Mactan casino license
PAGCOR revoked the casino license for PH Resorts' unfinished Emerald Bay integrated resort project in Mactan, Cebu, but the company anticipates no major financial impact.Summary
PH Resorts Group Holdings, Inc. announced that the Philippine Amusement and Gaming Corp. (PAGCOR) has revoked the casino license for its Emerald Bay integrated resort project in Mactan, Cebu. The company stated that this revocation is not expected to significantly affect its financial standing. PH Resorts also confirmed the termination of discussions with EEI Corp. regarding the project, noting that they did not reach definitive agreements. Earlier in the year, the company wrote off investments in the Emerald Bay project, incurring a P6.75-billion net loss in the first half of 2025. Despite the setback, PH Resorts intends to pursue other business opportunities and will provide updates as plans develop, while China Banking Corp. continues to seek a buyer for the unfinished property.
(Source：Businessworld Online)