Uy in talks with investors for Cebu casino

negotiations with foreign and local investors that would enable it to resume the development of its integrated resort project in Cebu province.

Located in Mactan, Cebu, Emerald Bay is envisioned to be the premier integrated resort in the Visayas and Mindanao. It will have a total of 146 gaming tables, 729 electronic gaming machines, 780 hotel room bays and five villas. Aside from looking for new investors for its casino-resort development, PH Resorts is also in advanced discussions with other parties for possible sale of some assets that are not generating any cash flows, it said.PH Resorts owns Clark Grand Leisure Corp. which is developing the 4.4-hectare Base Resort Hotel and Casino in Clark Freeport in Pampanga.

PH Resorts president and chief executive Raymundo Martin Escalona said despite posting continued losses, the company remained hopeful for the future.

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