PAGCOR revokes provisional license of Mactan casino project
PAGCOR revoked the provisional license for PH Resorts' Emerald Bay casino project in Mactan, Cebu, due to stalled development.Summary
The Philippine Amusement and Gaming Corp. (PAGCOR) has revoked the provisional license for the Emerald Bay integrated resort and casino project in Mactan, Cebu, owned by subsidiaries of PH Resorts Group Holdings Inc. The company stated that the revocation is not expected to significantly impact its financials, as the project had not yet begun commercial operations. Furthermore, partnership discussions with EEI Corp. for project completion are no longer feasible following PAGCOR’s decision. PH Resorts initially secured the provisional license in 2017, envisioning a five-star resort, but development was suspended during the COVID-19 pandemic due to financial and environmental challenges. The company intends to explore other business opportunities and will provide updates as plans are finalized.
(Source：Philstar.com)