• 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
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Udenna breaks ground on Cebu casino resort

Aug 09, 2017 Newsdesk Latest News, Philippines, Top of the deck  


Udenna breaks ground on Cebu casino resort

Philippine-based Udenna Development Corp broke ground a fortnight ago on a casino resort in Lapu-Lapu City, on the island of Mactan in Cebu province. The announcement was made in a Tuesday press release issued by the country’s gaming regulator, the Philippine Amusement and Gaming Corp (Pagcor).

Pagcor announced in May that it had approved a provisional licence for Udenna to build the casino resort. Privately-held Udenna – owned by Philippine businessman Dennis Uy (pictured fifth from right) – is a company based in Davao City. According to media reports, Mr Uy was a top contributor to the election campaign of the country’s current head of state, President Rodrigo Duterte.

“We hope that in two or three years’ time, we will be here again to witness the opening of this project,” said the head of Pagcor, Andrea Domingo (pictured fourth from right), in a statement included in the release.

“We hope that this will be a precedent for all integrated resorts that will be built outside of Entertainment City in Manila … because in Cebu City, there will be a world-class resort casino that is worth taking a look,” she added.

Also quoted in the release, Udenna’s Mr Uy said “the project will play a vital role in transforming Mactan into a premiere tourist destination”.

He added: “We break ground for thousands of jobs that will provide countless opportunities and brighter future for local businesses and entrepreneurs. It is also about showing the best of what Filipino talent and hospitality has to offer.”

According to Tuesday’s release, Udenna will invest about US$341 million in the scheme, dubbed The Emerald Resort and Casino. The project – which broke ground on July 26 – is to be built on a 12.5-hectare (30.9-acre) beachfront property, six kilometres (3.7 miles) from Cebu’s international airport.

The casino, retail complex and hotels are scheduled to open as early as 2019, with the remaining facilities to be completed by 2022, the firm had said previously.

The property – stated the release – was designed by U.S. architect Paul Steelman, whose practice Steelman Partners has been involved in many gaming projects in the U.S. and in Asia.

Mr Steelman, quoted in Pagcor’s release, said that despite featuring gaming areas, the overall property was designed “to be family-friendly”. “The palatial aspect of this building will certainly attract more tourists,” he added.

The Emerald is the first casino resort approved by the new board of Pagcor, noted Ms Domingo.

Ms Domingo had said in March that the country would impose a five-year moratorium on issuing further casino licences for the capital Manila, amid industry concerns of oversupply. Despite the moratorium on more Manila licences, Pagcor was said to be welcoming casino development applications for other parts of the country with more modest capital expenditure.


  • tweet
Related articles
  • Metro Manila, Entertainment City stay in GCQ to March 31
    Metro Manila, Entertainment City stay...

    Mar 03, 2021  

  • Int Ent half-year loss up, mulls financing for Manila IR
    Int Ent half-year loss up, mulls...

    Feb 25, 2021  

More news
  • Fitch says LVS Nevada sale slight negative, Moody’s keener
    Fitch says LVS Nevada sale slight...

    Mar 05, 2021  

  • Travel ban on casino hub Sihanoukville: reports
    Travel ban on casino hub Sihanoukville:...

    Mar 05, 2021  


Latest News

Fitch says LVS Nevada sale slight negative, Moody’s keener

Fitch says LVS Nevada sale slight negative, Moody’s keener

Mar 05, 2021  

Despite United States-based casino group Las Vegas Sands Corp (LVS) being in line to generate US$6.25 billion from the sale of its Las Vegas, Nevada assets, Fitch Ratings Inc said in a Thursday memo...
Read More
Travel ban on casino hub Sihanoukville: reports

Travel ban on casino hub Sihanoukville: reports

Mar 05, 2021  

Melco says City of Dreams in Cyprus open summer 2022

Melco says City of Dreams in Cyprus open summer 2022

Mar 05, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

“Prolonged closure of operations could derail earnings recovery and weigh on NagaCorp’s credit quality"

Junling Tan, Yu Sheng Tay and Vikas Halan

Analysts at credit rating agency Moody’s Investors Service



Most Popular

  • Lim Kok Thay, GEN Singapore execs in US$1.3mln stock awardLim Kok Thay, GEN Singapore execs in US$1.3mln stock award March 2, 2021
  • Las Vegas Sands to sell off Nevada assets for US$6.25blnLas Vegas Sands to sell off Nevada assets for US$6.25bln March 3, 2021
  • Covid-19 test cert no longer needed for Macau casino entryCovid-19 test cert no longer needed for Macau casino entry March 2, 2021
  • Pansy Ho again cuts stake in MGM Resorts, for US$57mlnPansy Ho again cuts stake in MGM Resorts, for US$57mln March 4, 2021
  • LVS plans to keep U.S. base, stock listing: spokesmanLVS plans to keep U.S. base, stock listing: spokesman March 4, 2021
Copyright 2014-2021 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us