• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Tuesday 30 September 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Okada Manila operator terminates deal to acquire Cebu’s Emerald Bay

Ben Blaschke by Ben Blaschke
Tue 2 Jul 2024 at 09:16
Emerald Bay developer PH Resorts Group warns of going concern risk as 1Q22 losses widen

The Emerald Bay, Cebu

49
SHARES
1.2k
VIEWS
Print Friendly, PDF & Email

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.

RelatedPosts

Rising tide

Former Okada Manila chief Byron Yip joins Sands China as Executive Vice President – Strategy

Tue 30 Sep 2025 at 11:27
PAGCOR funds National Bureau of Investigation in fight against illegal gambling

PAGCOR funds National Bureau of Investigation in fight against illegal gambling

Tue 30 Sep 2025 at 06:32
IEC issues profit warning on widened losses through December 2021

IEC falls to US$36 million loss in FY25 but 200% increase in gaming revenues suggests bright future for Manila IR project

Sat 27 Sep 2025 at 11:56
Philippines visitor receipts up 33% to US$4.84 billion in 1H24

Philippines visitation from South Korea, China remains suppressed in August

Fri 26 Sep 2025 at 04:51
Load More
Tags: CebuDennis UyEmerald BayOkada ManilaPH Resorts GroupPhilippinesTiger Resort Leisure and Entertainment Inc
Share20Share3
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Downward spiral

Downward spiral

by Pierce Chan
Tue 30 Sep 2025 at 15:05

Macau’s gross gaming revenues have risen steadily amid gradual economic recovery, yet the real estate market has suffered sustained declines...

10 Years Ago – A Rough Ride on the Silk Road

10 Years Ago – A Rough Ride on the Silk Road

by Ben Blaschke
Tue 30 Sep 2025 at 13:32

In this regular feature in IAG to celebrate 20 years covering the Asian gaming and leisure industry, we look back...

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Evolution Asia
Evolution Asia
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
NWR

Related Posts

Rising tide

Former Okada Manila chief Byron Yip joins Sands China as Executive Vice President – Strategy

by Ben Blaschke
Tue 30 Sep 2025 at 11:27

Byron Yip, the former President and COO of Philippines integrated resort Okada Manila, will join Macau concessionaire Sands China Ltd (SCL) as Executive Vice President – Strategy, Inside Asian Gaming has learned. In an internal memo seen by IAG, staff...

PAGCOR funds National Bureau of Investigation in fight against illegal gambling

PAGCOR funds National Bureau of Investigation in fight against illegal gambling

by Newsdesk
Tue 30 Sep 2025 at 06:32

Philippine gaming regulator PAGCOR said Monday it has committed Php50 million (US$860,000) to the National Bureau of Investigation (NBI) to help strengthen its operations against illegal gaming, including banned POGOs. In a statement, PAGCOR revealed that it signed a Memorandum...

We’re Back!

South Korea’s new 15-day visa-free policy for Chinese visitors officially launches

by Newsdesk
Tue 30 Sep 2025 at 06:22

South Korea officially launched on Monday its latest visa-free policy for Chinese tour groups in a further move aimed at boosting the country’s tourism sector. First announced in March, the policy is part of a pilot program that will run...

Almost 400,000 visitors enter Macau during three-day New Year’s holiday

Macau’s Public Security Police Force anticipating 1.2 million visitor arrivals during Golden Week holiday

by Pierce Chan
Mon 29 Sep 2025 at 23:24

Macau’s Public Security Police Force expects to see over 1.2 million visitors arrive during this year’s eight-day National Day Golden Week holiday. The National Day holiday will this year be combined with the Mid-Autumn Festival, resulting in a total of...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English