Tiger Resort, Leisure and Entertainment Inc. , the Japanese operator of Okada Manila, has terminated its agreement to acquire Dennis Uy’s hotel and casino project in Cebu.
“We understand that the Okada Manila operator no longer intends to pursue the Emerald Bay acquisition,” PHR president Raymundo Martin Escalona said in a statement. Nevertheless, this development shall give PHR the opportunity to engage with other parties which have already expressed their keen interest in the Emerald Bay Project, but have been unable to formalize due to the restrictions under the TRLEI deal.
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