PH Resorts Group Holdings, the gaming and hospitality arm of Udenna Corporation, says completion of the first phase of its Cebu integrated resort, The Emerald Bay, has been delayed until the 1Q22.
Originally planned to open in 2020, details of the delay were included in PH Resorts Group’s first quarter financial results, published Monday, which saw the company record a loss of Php138.6 million (US$2.8 million), increased from Php59.3 million (US$1.2 million), and a 54.9% decline in operating revenue to Php9.5 million (US$189,500). PH Resorts Group currently operates the Donatela Hotel on Panglao Island, Bohol.
When complete, the Paul Steelman-designed The Emerald Bay will sit on 13.5 hectares of land on Mactan Island in Lapu-Lapu City with the first phase to include an 838-room 5-star hotel, 8,000 square meters of retail, 18 restaurants, a convention center and a 7,585 square meter gaming floor comprising 146 gaming tables and 1,186 slot machines.
PH Resorts Group, which began construction of The Emerald Bay in December 2017, also revealed that its subsidiary, Donatela Hotel Panglao Corp, is currently planning an expansion of the upscale Donatela Hotel to “improve its operations.”
The company is currently designing another casino resort, called The Base, in Clark Freeport Zone, which is “expected to have approximately 600 electronic gaming machines, approximately 100 gaming tables, several hotels with approximately 400 rooms, and a retail and restaurant complex.”