{"id":10276,"date":"2026-01-27T04:58:38","date_gmt":"2026-01-27T04:58:38","guid":{"rendered":"https:\/\/casino-online-best.com\/index.php\/2026\/01\/27\/chinabank-waits-for-right-offer-on-failed-emerald-bay-casino-site\/"},"modified":"2026-01-27T04:58:38","modified_gmt":"2026-01-27T04:58:38","slug":"chinabank-waits-for-right-offer-on-failed-emerald-bay-casino-site","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2026\/01\/27\/chinabank-waits-for-right-offer-on-failed-emerald-bay-casino-site\/","title":{"rendered":"Chinabank Waits For Right Offer On Failed Emerald Bay Casino Site"},"content":{"rendered":"<div>\n<p>China Banking Corp has no plans to rush a sale tied to the stalled Emerald Bay casino site in Cebu. The lender says the land will remain off the market until pricing aligns with internal expectations.<\/p>\n<hr>\n<p><em><strong>Good to Know<\/strong><\/em><\/p>\n<ul>\n<li><em><strong>Chinabank controls the Emerald Bay site after a leaseback expired<\/strong><\/em><\/li>\n<li><em><strong>Emerald Bay development stopped years before opening<\/strong><\/em><\/li>\n<li><em><strong>No sale will proceed without acceptable valuation<\/strong><\/em><\/li>\n<\/ul>\n<hr>\n<p>China Banking Corp confirmed it will not sell the land beneath the failed Emerald Bay integrated resort until financial terms meet its expectations. Chinabank Chairman Hans Sy addressed the status of the property during a recent interview with GMA News.<\/p>\n<p><em>\u201cThere are offers,\u201d<\/em> Sy said. <em>\u201cWe\u2019ll negotiate. When we get a price that we find is good, then we sell.\u201d<\/em><\/p>\n<p>The land once anchored Emerald Bay, a planned $300 million casino resort backed by Dennis Uy and PH Resorts Group. Construction began in 2017 with an original opening target set for 2021. That timeline unraveled after the pandemic disrupted labor, supply chains, and financing. Work slowed, then stopped, and never restarted.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\"><br \/>\n\t\t<amp-img alt=\"Mirax Casino\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Mirax-Casino.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Mirax Casino\" target=\"_blank\" rel=\"nofollow\">Mirax Casino<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of 350% + 150 Free Spins\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2>Partnerships that never moved forward<\/h2>\n<p>PH Resorts Group spent years searching for partners to revive the project. Talks included Tiger Resort Leisure &#038; Entertainment Inc, operator of Okada Manila, along with Bloomberry Resorts led by Enrique Razon and Cebu-based developer AppleOne Group. None of those discussions resulted in a finalized agreement.<\/p>\n<p>In December 2024, construction firm EEI Corp entered into a deal to help complete the long-delayed resort. That effort also collapsed within the same month, ending the final known attempt to restart development.<\/p>\n<h2>What Emerald Bay was meant to become<\/h2>\n<p>Phase 1 plans called for a beachfront integrated resort anchored by a 7,585 square meter casino. The gaming floor would have featured 1,186 electronic gaming machines and 146 table games. Design plans also included a five-star hotel, four swimming pools, 18 food and beverage outlets, a retail zone, and conference facilities.<\/p>\n<p>PH Resorts Group lost control of the site last March after a leaseback agreement signed in 2023 expired. Chinabank declined to renew the arrangement, bringing an end to the developer involvement.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/7-bit-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\"><br \/>\n\t\t<amp-img alt=\"7Bit Casino\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/7BitCasino.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/7-bit-casino\/\" title=\"7Bit Casino\" target=\"_blank\" rel=\"nofollow\">7Bit Casino<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>177% up to 5BTC + 77 <strong>\u00a0Free Spins<\/strong>!<\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of 177% + 77 Free Spins\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/7-bit-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><em>\u201cWe gave them a chance \u2013 a year and a half \u2013 because we don\u2019t want to be ruthless,\u201d<\/em> Sy said. <em>\u201cWe gave Dennis a chance to redeem.\u201d<\/em><\/p>\n<p>The situation worsened in December when the Philippine Amusement and Gaming Corp <a href=\"https:\/\/igaming.org\/casino-news\/philippines-regulator-shuts-down-stalled-emerald-bay-project\/\">withdrew Emerald Bay provisional gaming licence<\/a>, formally ending the project path toward operation.<\/p>\n<h2>Chinabank outlook and strategy shift<\/h2>\n<p>Sy described the year ahead as difficult and said Chinabank will adjust its priorities accordingly.<\/p>\n<p>Sy said he expects 2026 to be a \u201cchallenging\u201d year. He added that Chinabank plans to focus more on small and medium enterprises rather than large-scale developments. He added:<\/p>\n<p><em>\u201cThere are better opportunities than working with such a big entity \u2026 I don\u2019t want to be putting all eggs in one basket.\u201d<\/em><\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/chinabank-waits-for-right-offer-on-failed-emerald-bay-casino-site\/\">Chinabank Waits For Right Offer On Failed Emerald Bay Casino Site<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>China Banking Corp has no plans to rush a sale tied to the stalled Emerald Bay casino site in Cebu. The lender says the land will remain off the market until pricing aligns with internal expectations. Good to Know Chinabank controls the Emerald Bay site after a leaseback expired Emerald Bay development stopped years before [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-10276","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/10276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=10276"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/10276\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=10276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=10276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=10276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}