Suntrust Resort Holdings Inc says it expects to start operations “in the first quarter of 2025” at the “main hotel casino” at Westside City in the Philippine capital Manila.
The information was in a Monday filing to the Philippine Stock Exchange.
In an August update on progress of construction for the complex (pictured in an artist’s rendering) housing the hotel casino, the firm had mentioned the possibility that gaming and hotel operations could start in the fourth quarter this year.
In its latest filing, Suntrust stated: “Architectural builders and fit out works, and external civil works are in progress.
“Management aims to commence the operations of a five-star hotel and casino establishment (main hotel casino) in the first quarter of 2025.”
The company stated that as of December 31, 2023, structural work and tower facade up to roof level had been completed, except a façade at the middle portion of a “skybridge”.
Suntrust declared in its annual filings for 2023 a loss of PHP337.03 million (US$5.98 million). That was sharply down on the nearly PHP668.92-million loss registered in 2022.
Suntrust is indirectly controlled by casino investor Hong Kong-listed LET Group Holdings Ltd, a firm chaired by businessman Andrew Lo Kai Bong.
Another firm controlled by LET Group, Hong Kong-listed Summit Ascent Holdings Ltd, had mentioned in a September filing that Suntrust had started recruiting workers to run the hotel casino at Westside City.
Summit Ascent runs the Tigre de Cristal hotel and gaming business in the Integrated Entertainment Zone of the Primorye Region near Vladivostok in the Russian Federation.
Summit Ascent and LET Group respectively flagged last week that they each expected to record a loss for 2023.
