• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Suntrust has 2Q loss, Westside City 2024 opening on track

Aug 16, 2022 Newsdesk Latest News, Philippines, Top of the deck  


Suntrust has 2Q loss, Westside City 2024 opening on track

Suntrust Resort Holdings Inc had a second-quarter net loss amounting to PHP255.1 million (US$4.6 million), it said in a Monday filing to the Philippine Stock Exchange.

Suntrust Resort – formerly Suntrust Home Developers Inc – is a vehicle for Hong Kong-listed Suncity Group Holdings Ltd and associated entities to develop a casino hotel (pictured in an artist’s impression) in the Westside City project in Manila, the Philippine capital.

Monday’s filing said that as of June 30, the pile capping, ground floor, and levels one and two of the “main hotel casino” had been completed, while work on the basement was “in progress”.

It added: “Management aims to commence the operation of the main hotel casino in 2024.”

As of June 30, Suntrust Resort had commitments amounting to nearly PHP21.98 billion – about US$393 million – for construction of the main hotel casino, said the filing. As of that date, the group’s total resources amounted to nearly PHP30.28 billion.

In a December 1 filing, the-then Suntrust Home Developers had said the detention in Macau a few days earlier, of the-then Suncity Group Holdings chairman Alvin Chau Cheok Wa was “not expected to have a material impact on the timeline of the construction” of the Westside City hotel and casino.

Mr Chau was detained on criminal allegations linked to the privately-held Macau junket brand Suncity Group. He is awaiting an anticipated September start of his trial on charges of illegal gaming, criminal association, fraud, and money laundering.


  • tweet
Related articles
  • Casino investor LET gets US$64mln loan from Summit Ascent
    Casino investor LET gets US$64mln loan...

    Jan 30, 2023  

  • Court denies Chau’s petition for more time to appeal: report
    Court denies Chau’s petition for...

    Jan 20, 2023  

More news
  • Macau early Feb average daily GGR higher than Jan: JPM
    Macau early Feb average daily GGR...

    Feb 06, 2023  

  • Macau tour trade returns at historic areas, resorts says govt
    Macau tour trade returns at historic...

    Feb 06, 2023  


Latest News

Macau early Feb average daily GGR higher than Jan: JPM

Macau early Feb average daily GGR higher than Jan: JPM

Feb 06, 2023  

Macau’s casino gross gaming revenue (GGR) for the first five days of February is estimated at MOP1.9 billion (US$235.1 million) – or MOP380 million per day – a level that suggests a “45...
Read More
Macau tour trade returns at historic areas, resorts says govt

Macau tour trade returns at historic areas, resorts says...

Feb 06, 2023  

Cambodia ops to Mar 31 for due tax on non-gaming: report

Cambodia ops to Mar 31 for due tax on non-gaming: report

Feb 06, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The resumption [of mainland package tours] is definitely good news: recovering foot traffic for casinos [in Macau] is really important and their comeback will help with that”

Hoffman Ma Ho Man

Deputy chairman of Success Universe Group, promoter of casino-hotel Ponte 16



Most Popular

  • Return of tours good for mass floor traffic: observersReturn of tours good for mass floor traffic: observers February 3, 2023
  • Jaw-dropping wagers in Macau CNY survey: CitigroupJaw-dropping wagers in Macau CNY survey: Citigroup February 2, 2023
  • Galaxy Macau’s new arena to host K-pop group BlackpinkGalaxy Macau’s new arena to host K-pop group Blackpink January 9, 2023
  • Cyprus president says Melco CoD Mediterranean to aid nationCyprus president says Melco CoD Mediterranean to aid nation February 6, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us