{"id":7456,"date":"2024-07-02T04:27:20","date_gmt":"2024-07-02T04:27:20","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/07\/02\/ph-resorts-seeks-new-investors-for-emerald-bay-project\/"},"modified":"2024-07-02T04:27:20","modified_gmt":"2024-07-02T04:27:20","slug":"ph-resorts-seeks-new-investors-for-emerald-bay-project","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/07\/02\/ph-resorts-seeks-new-investors-for-emerald-bay-project\/","title":{"rendered":"PH Resorts Seeks New Investors for Emerald Bay Project"},"content":{"rendered":"<div>\n<p>The acquisition talks between PH Resorts Group Holdings Inc. and Tiger Resort Leisure &#038; Entertainment Inc. (TRLEI) have officially ended. The deal, which would have seen TRLEI invest in PH Resorts\u2019 Emerald Bay Resort casino project in Mactan, Cebu, was terminated, according to a Tuesday filing by PH Resorts.<\/p>\n<p>TRLEI, a subsidiary of Japan\u2019s Universal Entertainment Corp., operates the Okada Manila casino resort in Manila. PH Resorts, led by entrepreneur Dennis Uy, had hoped to finalize this agreement but now must look elsewhere for investment.<\/p>\n<p>Raymundo Escalona, President of PH Resorts, stated in the announcement to the Philippine Stock Exchange,<em> \u201cWe understand that the Okada Manila operator no longer intends to pursue the Emerald Bay acquisition. Nevertheless, this development shall give PH Resorts the opportunity to engage with other parties which have already expressed their keen interest in the Emerald Bay Project but have been unable to formalize such interest due to the restrictions under the TRLEI deal.\u201d<\/em><\/p>\n<p>Escalona also reassured shareholders and stakeholders, saying, <em>\u201cThe company\u2019s management is already working towards another transaction, be it an acquisition, joint venture, or otherwise, that will ensure the completion of the Emerald Bay project.\u201d<\/em><\/p>\n<p>PH Resorts will continue to keep the public informed on significant updates as they arise, according to the filing.<\/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\/kats-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"Kats Casino\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/12\/kats-casino-1.jpg.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\/kats-casino\/\" title=\"Kats Casino\" target=\"_blank\" rel=\"nofollow noopener\">Kats 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><strong>250% Extra + $125 Free Chip!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. 250% on 1st Deposit + $125 Free Chip<\/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\/kats-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Universal Entertainment had announced on Monday that TRLEI had notified PH Resorts of the termination due to unmet closing conditions. The Japanese company stated, <em>\u201cDue to confidentiality obligations, the company does not provide specific details of this matter.\u201d<\/em><\/p>\n<p>In late June, PH Resorts addressed media reports about the negotiations, clarifying that any claims of disagreements over commercial terms were unfounded and not part of the discussions.<\/p>\n<p>Previously, on December 8, TRLEI had signed a preliminary agreement to acquire a significant majority ownership of PH Travel and Leisure Holdings Corp., which includes the Emerald Bay project. PH Resorts confirmed in April that one of its subsidiaries received an initial non-refundable payment of PHP300.1 million (US$5.2 million) from TRLEI towards the cost of a stock subscription for majority ownership.<\/p>\n<p>Universal Entertainment noted that a final agreement was expected to be signed this month. However, with the termination of the term sheet, PH Resorts must now seek new partnerships or investors to move the Emerald Bay project forward.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/ph-resorts-seeks-new-investors-for-emerald-bay-project\/\">PH Resorts Seeks New Investors for Emerald Bay Project<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The acquisition talks between PH Resorts Group Holdings Inc. and Tiger Resort Leisure &#038; Entertainment Inc. (TRLEI) have officially ended. The deal, which would have seen TRLEI invest in PH Resorts\u2019 Emerald Bay Resort casino project in Mactan, Cebu, was terminated, according to a Tuesday filing by PH Resorts. TRLEI, a subsidiary of Japan\u2019s Universal [&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-7456","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/7456","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=7456"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/7456\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=7456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=7456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=7456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}