PH Resorts Group Holdings has confirmed that the Philippine Amusement and Gaming Corp (PAGCOR) has approved its request to voluntarily suspend its provisional licence for an integrated resort with a casino in Clark Global City, on the main island of Luzon.
PH Resorts said the company had “sought for the voluntary suspension of its licence due to some lingering uncertainties surrounding the casino gaming industry especially with more competition in the Clark, Pampanga location.”
The casino operator will now focus on the development of its Emerald Bay casino resort in Mactan, Cebu. PH Resorts had originally hoped for a soft launch by the end of this year, but that was put back due to the impact of the Covid-19 pandemic. Completion of phase 1 is expected in the third quarter of 2022.
The second phase, which will add more than 700 electronic gaming machines and 146 additional gaming tables, is slated for completion by 2026. The second phase will also include space for meetings and exhibitions and a second five-star hotel.
According to PH Resorts, the Emerald Bay IR first phase development has an estimated cost of US$238.5m. The second phase has a budget of US$465.4m.