Suntrust confirms casino hotel 2024 opening on track
Suntrust Resort Holdings Inc has confirmed that a casino hotel (pictured in an artist’s impression) it is developing as part of the Westside City project in Manila, the Philippine capital, is expected to “commence operations in 2024”.
Suntrust Resort – formerly Suntrust Home Developers Inc – is a vehicle for Hong Kong-listed LET Group Holdings Ltd and associated entities to develop a casino hotel. LET Group is a Hong Kong-listed company, formerly known as Suncity Group Holdings Ltd.
The complex is to feature 460 five-star rooms, and a casino establishment that “would cater to both mass and VIP markets,” according to a Tuesday filing to the Philippine Stock Exchange. Based on information provided by the group, the project has a price tag of approximately US$1 billion.
Construction of the casino hotel was progressing in 2022, with the group incurring and capitalising PHP6.4 billion (US$117.7 million) of project costs in the year to December 31.
Suntrust had a full-year 2022 net loss amounting to PHP557.1 million, compared with a PHP504.9-million loss in the prior year, it stated in its latest earnings filing.
Latest News
G2E Asia 2023: Singapore
-
Alfastreet’s new Verso cabinet heading to Asian markets Alfastreet, a manufacturer of electronic gaming machines,... -
Sega Sammy Creation growing land-based, eyes online Casino equipment maker Sega Sammy Creation Inc is tweaking... -
iGaming growing in Asia, ops tackling challenges: Uplatform The iGaming segment in Asia “has grown rapidly” since... -
‘See before you play’ slot marketing tool, say tech... Showing slot machine players – via animations on the... -
Macau stocks tied to China outlook: Bloomberg analyst Macau stocks in likelihood “have been punished too much... -
Investors still eye possible fresh IR locations in Japan:... There are foreign companies still interested in investing... -
Thai casino law possible in 2024, IR in 2030: govt adviser Thailand could pass the necessary enabling legislation for... -
China still ‘critical’ to Asian markets: G2E Asia panel China will remain a key market for Asian gaming... -
Much interest in state casinos sale, says Pagcor boss Alejandro Tengco (pictured in a file photo), chairman and... -
Gaming industry in for a very exciting period: Bill Miller There are “plenty of reasons” for the global gaming... -
IGT flags route to high-performing games for Asia Gaming equipment provider International Game Technology Plc... -
G2E Singapore trade show, conference begins today The Global Gaming Expo (G2E) Asia 2023 Special Edition:... -
Novomatic’s Black Edition II cabinets at G2E in Singapore Austria-based gaming equipment maker and operator Novomatic... -
Uplatform to show latest iGaming products at G2E Singapore Sports betting and online casino operating platform... -
L&W ambition to be No1 in Asia well on its way: SVP... The business performance in Asia of gaming content and... -
G2E Singapore expecting 6k visitors, 100+ exhibitors The organisers of Global Gaming Expo (G2E) Asia 2023... -
‘Dragon Unleashed’ slot link by L&W at G2E in... Gaming content and equipment supplier Light & Wonder... -
Sega Sammy Creation new multi-ETG at G2E in Singapore Casino equipment maker Sega Sammy Creation Inc is to... -
Aristocrat at G2E Asia in Singapore previews Year of Dragon Casino slot machine and digital gaming content provider... -
IGT ‘Prosperity’ link in Asia show debut G2E in... The Global Gaming Expo (G2E) Asia event in Singapore is the... -
Thai parliament adviser on casinos attending G2E Singapore An adviser to a Thailand parliamentary committee mulling...
Sign up to our FREE Newsletter
(Click here for more)
Most Popular
Macau stocks tied to China outlook: Bloomberg analyst May 31, 2023 
Macau May GGR tops US$1.9bln, up 6pct from Apr: govt June 1, 2023 
Thailand still a watch and wait: LVS chairman May 31, 2023
