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
Uplatform Captivates SiGMA Central Europe 2025: Fresh Ideas, Juicy Results
(Cyprus).- At Fiera Roma, where countless booths fought for attention, only one stopped attendees in their tracks and sparked the reaction, “You have to see this”—Uplatform’s standout showcase.
Thursday 20 Nov 2025 / 12:00
SiGMA Central Europe: An Exclusive Conversation with GR8 Tech’s Chief Sales Officer Yevhen Krazhan
(Rome, SoloAzar Exclusive).- In this interview, Yevhen Krazhan, Chief Sales Officer at GR8 Tech, discusses the cutting-edge products and solutions showcased at SiGMA Central Europe, the audience’s enthusiastic response, and how GR8 Tech is carving out a strong position in high-growth regions such as MENA, Africa, and Latin America.
Thursday 20 Nov 2025 / 12:00
Belatra Showcases Innovation and Expansion Strategy at SiGMA Central Europe
(Rome, SoloAzar Exclusive).- Belatra Games made a powerful impression at SiGMA Central Europe, where Chief Marketing Officer Kateryna Goi unveiled the company’s latest titles and strategic vision. The booth buzzed with excitement as visitors explored novelties such as Long Neck Fortune, Goose Boom Bang, and Fortune Mummy, alongside the centerpiece attraction—the Mummyverse, a connected universe of thrilling slot experiences. Read more about company’s growth and future expansion across Europe.
Wednesday 19 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.