Cebu's Emerald Bay Resort and Casino Nears 2022 Debut with $43M Boost
A major resort and casino project is taking shape in Cebu, Philippines. Called Emerald Bay Resort and Casino, the development is set to open in 2022 with a large gaming floor, luxury hotel, and multiple dining options. The first phase alone will feature 1,186 slot machines, 146 gaming tables, and an 838-room hotel.
The project is backed by a $43 million loan, secured by Emerald Development, a subsidiary of Udenna Corporation. Plans for Emerald Bay began in 2017 when the Philippine Amusement and Gaming Corporation (PAGCOR) granted provisional approval. Construction started later that same year. Udenna, the parent company, previously raised around $80 million by selling a 25% stake in Phoenix Petroleum Philippines to help fund the project.
The first phase will include an 81,644-square-foot gaming floor alongside 18 restaurants, a convention centre, and numerous retail stores. PH Resorts CEO Raymundo Martin Escalona described the $43 million loan as a crucial step in finishing the resort.
A second phase is already planned, featuring an expanded gaming area and a 1,300-room luxury hotel. Meanwhile, PH Resorts is also preparing to open another resort casino in Pampanga province. Emerald Bay Resort and Casino is on track for a 2022 debut. The project combines gaming, hospitality, and entertainment on a large scale. With financing secured and construction underway, the resort aims to become a major destination in Cebu.
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