PH Resorts Group, the gaming and hospitality arm of Philippines business giant Udenna Group, has pushed back the planned opening date of its new Cebu integrated resort, Emerald Bay, until the first quarter of 2023.
The updated timeline was referenced by the company in a progress report filed Monday with the Philippine Stock Exchange, with Emerald Bay having previously been scheduled for a 3Q22 launch.
Revealing that almost 41% of the phase 1 development is complete, with interior and fits-outs to commence shortly, PH Resorts Group said it is “working closely with its primary design (Steelman Partners), project management (Tenman HK Limited) and construction (Terp Asia Construction Corporation) teams to ensure that phase 1 of Emerald Bay is completed and will commence full operations on budget and on track for the targeted opening in the first quarter of 2023.”
Phase 1 will boast 4,154 square meters of gaming floor with 600 slot machines, 122 gaming tables, a 270-room five-star hotel, five food and beverage outlets and a “partially completed 300-meter-long beach front that will be open to resort guests.”
Phase 2, to be completed by 2027, will add another 8,210 square meters of gaming floor, 729 slot machines, 146 gaming tables, 780 five-star hotel rooms, five villas, four pools, MICE facilities and 16 food and beverage outlets.
The delay in opening phase 1 comes after PH Resorts Group announced last week that it had requested and received approval from Philippines gaming regulator PAGCOR to voluntarily suspend a provisional license for another IR development in Clark, known as The Base, in part to allow the company to focus on completing development of Emerald Bay.