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Type: Posts; User: Danike

  1. Posts
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    24,783
    At the end of 2023, the casino had to dismiss 181 employees four months after its grand opening.
    The conflicts in Russia's war in Ukraine, ensuing sanctions, and the recent war in Israel further exacerbated the hurdles faced by the mega-project. The decline in casino traffic, attributed to the loss of tourists from Russian and Israeli markets, prompted the company to issue a statement acknowledging the necessity of difficult decisions.

    However, since February 2024, they are on the recovery path after a recent slowdown due to the Gaza-Israel conflict, with business volumes in both its casino and hotel showing strong growth.

    Source: https://knews.kathimerini.com.cy/en/business/city-of-dreams-mediterranean-faces-bumpy-start-with-181-job-losses
    Source: https://cdcgaming.com/brief/cyprus-melcos-city-of-dreams-mediterranean-integrated-resort-busy-as-impact-of-israel-conflict-abates/
  2. Thread: Emerald Bay Resort

    Post by: Danike
    Posts
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    17,172
    Tiger Resort makes initial $5.2M payment for Emerald Bay rescue.

    PH Resorts Group has obtained an initial “non-refundable” payment of PHP300.1 million ($5.2 million) from Tiger Resort as it moves to relinquish majority ownership of Cebu-based Emerald Bay.

    This payment is for a stock subscription, which, upon completion, would transfer majority ownership of the operating interest for the paused Emerald Bay casino resort project in Cebu to Tiger Resort, Leisure and Entertainment, Inc (TRLEI).

    In December last year, TRLEI, under the umbrella of Japan’s Universal Entertainment, disclosed a preliminary agreement with PH Travel and Leisure Holdings Corp, a subsidiary of PH Resorts. This agreement outlines the acquisition of specific interests in Lapulapu Leisure Inc (LLI) and Lapulapu Land Corp (LLC), both subsidiaries of PH Travel responsible for developing Emerald Bay.

    PH Resorts has been financially struggling, with the Cebu integrated resort (IR) operator revealing liabilities surpassing its current assets by PHP303 million ($5.24 million) and PHP1.97 billion ($34 million), respectively, in 2023 and 2022.

    Source: https://agbrief.com/news/philippines/01/05/2024/tiger-resort-makes-initial-5-2m-payment-for-emerald-bay-rescue/



    Image source: https://agbrief.com/news/philippines/01/05/2024/tiger-resort-makes-initial-5-2m-payment-for-emerald-bay-rescue/
  3. Posts
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    39,734
    Abu Dhabi Terminal A is able to serve up to 45 million passengers per year. For the time being, all flights at Abu Dhabi Airport are departing from the new Terminal A. Terminal 1 and Terminal 3 have been closed, though if demand increases in the future, we could see the reopening of Terminal 3.

    The terminal is currently the only one in operation at Abu Dhabi Airport, and it’s a game changer for Etihad. Etihad went from having one of the least impressive hubs in the region, to having a beautiful new terminal that’s easy to navigate and beautiful.

    Source: Abu Dhabi Airport Terminal A: Etihad's Gorgeous New Home - One Mile at a Time https://onemileatatime.com/reviews/abu-dhabi-airport-terminal-a/


    Terminal A central area


    Terminal A seating area


    Terminal A dining area


    Terminal A shopping

    Source: https://onemileatatime.com/reviews/abu-dhabi-airport-terminal-a/
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