Okada Manila operator terminates deal to acquire Cebu’s Emerald Bay
Wednesday 03 de July 2024 / 12:00
2 minutos de lectura
(Manila).- Okada Manila operator Tiger Resort, Leisure and Entertainment Inc (TRLEI) said Monday it had terminated an agreement to acquire a controlling interest in stalled Cebu integrated resort Emerald Bay.
In a filing by parent firm Universal Entertainment Corp, TRLEI said it had informed Emerald Bay owner PH Resorts Group of the termination because certain Closing Conditions under the Term Sheet “are not or cannot be fulfilled”.
It did not provide any further details, citing confidentiality obligations, but said the cancellation will have no impact on the company’s consolidated financial results for the year ending 31 December 2024.
This is the second time a deal with a major Manila integrated resort operator to acquire Emerald Bay from PH Resorts Group has fallen through, with Solaire owner Bloomberry Resorts Corp having terminated a deal in similar circumstances in early 2023.
PH Resorts Group only last week denied local media reports that the TRLEI deal was on the brink of collapse due to “unrealistic terms” set by the selling party. Those reports claimed that owner Dennis Uy wanted a premium for his remaining stake in the project as well as repurchase rights, with TRLEI unwilling to meet such terms.
This latest development leaves the future of Emerald Bay very much in limbo. The stalled project had been envisioned to become Cebu’s second integrated resort after NUSTAR, with plans for a five-star hotel featuring two 15-story towers with 642 rooms, four pools, 18 food and beverage outlets, retail spaces, conference and exhibition facilities, and a large-scale gaming floor with more than 700 electric gaming machines and over 140 tables.
Categoría:Casino
Tags: Sin tags
País: Philippines
Región: Asia
Event
SiGMA Central Europe
03 de November 2025
Galaxsys Showcases Chicken Crash and Expanding Fast-Game Portfolio at SiGMA Central Europe 2025
(Rome, SoloAzar Exclusive).- In an interview with Teni Grigoryan, Chief Sales and Partner Management Officer at Galaxsys, the company highlighted its newest release Chicken Crash alongside popular titles like Maestro and Tower Rush at SiGMA Central Europe 2025. With a focus on fast, engaging, and easy-to-understand gameplay, Galaxsys drew strong audience interest, reinforced its diverse portfolio, and outlined clear priorities for continued expansion and innovation heading into 2026.
Friday 28 Nov 2025 / 12:00
Toni Karapetrov from Habanero at SiGMA Central Europe: "Italy has been a fundamental market for us since 2016"
(Rome, SoloAzar Exclusive ).- In this interview, Toni Karapetrov, Head of Corporate Communications at Habanero, discusses the company’s emphasis on its slot portfolio, strong audience engagement, and the growing importance of adaptable technology—while assessing the event’s networking value and business potential across Europe.
Friday 28 Nov 2025 / 12:00
Driving Growth Through Localization: Maria Ism Reflects on Uplatform’s Impact at SiGMA Central Europe
(Rome, SoloAzar Exclusive).- Maria Ism, Sales Team Lead at Uplatform, shares key insights from SiGMA Central Europe, discussing market trends, high-quality networking, and the growing demand for tailored, scalable solutions across Europe—especially in Italy.
Wednesday 26 Nov 2025 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.