PH Resorts exploring options after Cebu casino license revocation
PH Resorts is evaluating new strategies, including joint ventures, after its Cebu casino license was revoked due to project delays.Summary
PH Resorts Group Holdings, Inc. is reassessing its business plans following the revocation of its casino license for the Emerald Bay integrated resort and casino project in Cebu. The company is exploring various options, including reconfiguring existing assets, pursuing joint venture projects, and considering mergers and acquisitions. While no definitive plans have been finalized, PH Resorts will announce its course of action once determined. The company previously raised P756 million for the project, with P707.2 million invested in construction, and reported a P6.75-billion net loss in the first half of 2025 after writing off investments. The license revocation by the Philippine Amusement and Gaming Corp. stemmed from construction delays and financial difficulties.
(Source：Businessworld Online)