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Local Name:
Westside City Resorts World
Budget:
$1.1B
Announced:
12 Aug 2008
Construction Start:
08 Oct 2014
Opening:
unknown
Area:
31 ha
Consultants:
Designers:
Contractors:
Ride Suppliers:
Other Suppliers:
  1. HunterX is offline resortX Top Investigator
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    Suntrust Resort Holdings Inc, the subsidiary of Hong Kong’s LET Group Holdings currently developing a US$1.1 billion hotel and casino in Manila’s Entertainment City precinct, has entered into a series of refinancing agreements with Summit Ascent Holdings.

    According to information filed by Summit Ascent on Thursday morning, the agreements include a new loan agreement under which SA Investments will provide a loan facility to Suntrust of up to US$20 million, pending shareholder approval.

    The loan facility relates to a requirement for Suntrust to maintain a credit balance of no less than US$20 million in a construction reserve account to cover any cost over-runs in the construction of the Manila hotel and casino.
    Source: https://www.asgam.com/index.php/2023/07/27/summit-ascent-reaches-refinancing-agreements-with-suntrust-to-ensure-completion-of-manila-hotel-and-casino/

  2. BurningSky is offline resortX Top Investigator
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  3. ResortsAhoy is offline resortX Top Investigator
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    Nestled amidst the vibrant energy and excitement of the emerging entertainment district, Gentry Manor offers an unparalleled residential experience that redefines opulence.











  4. ResortsAhoy is offline resortX Top Investigator
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    Suntrust Resort Holdings Inc has agreed to a fresh US$6 million loan as it continues pushing to complete development of its US$1 billion hotel and casino project in Manila’s Entertainment City.

    The loan was approved by the company’s Board of Directors on Friday, Suntrust revealed, and will be provided by Major Success Group – the parent company of Suntrust’s controlling shareholder LET Group Ltd (formerly known as Suncity Group). Major Success Group is wholly-owned by LET Group Chairman, Andrew Lo Kai Bang.
    Suntrust did not reveal whether the loan is linked in any way to its failure to pay Php336 million (US$6.2 million) in interest owing to another LET Group subsidiary, Summit Ascent Holdings, on convertible bonds subscribed to in late 2020. Summit Ascent, operator of Russian casino-resort Tigre de Cristal, said in January that it was “in discussions with Suntrust on the payment arrangement of the overdue interest but no concrete plan has been reached as at the date of this announcement.”
    Source: https://www.asgam.com/index.php/2023/05/28/suntrust-agrees-to-new-us6-million-loan-from-let-group-chairman-andrew-lo-for-manila-casino-project/

  5. ResortsAhoy is offline resortX Top Investigator
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    Possible bad news for SunTrust

    Suntrust Resort Holdings, the Philippines-listed subsidiary of Hong Kong-based gaming investor LET Group Holdings, has revealed it is seeking a potential loan facility in order to complete construction of its US$1 billion hotel and casino development in Manila’s Entertainment City precinct.
    According to details filed with the Philippine Stock Exchange on Wednesday, the potential loan facility is currently under negotiation with the company set to seek shareholder approval.
    The potential loan comes after Suntrust recently stated that the hotel and casino project, part of Travellers International Hotel Group’s Westside City development, was on track to open in 2024 – despite a January report that the company had failed to pay Php336 million (US$6.2 million) in interest owing to Summit Ascent Holdings on convertible bonds subscribed to in late 2020. Summit Ascent, which is also majority-owned by LET Group, stated at the time it was in discussions with Suntrust over the issue.
    Source: https://www.asgam.com/index.php/2023/04/19/suntrust-flags-potential-loan-facility-to-ensure-completion-of-us1-billion-manila-hotel-and-casino-development/

  6. ResortsAhoy is offline resortX Top Investigator
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    A long-expected Suntrust Resort Holdings Inc will be opened in Manila as a part of the Westside City Project developed by Westside City Resorts World Inc and Travellers International Hotel Group Inc.
    The plans for the new casino hotel building are progressing as planned, so it is estimated that the work on the construction will be completed in 2024 when the casino will be opened for visitors.

    On Tuesday, the company published its Annual Report, and Suntrust claims that so far, there aren’t any unpredicted events, material issues, or uncertainties that can delay the opening of the building.
    Source: https://news.worldcasinodirectory.com/opening-of-suntrust-casino-hotel-in-2024-108228

  7. ResortsAhoy is offline resortX Top Investigator
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    Philippines construction giant Megaworld Corporation has announced plans to develop a new Php15 billion (US$262 million) “integrated lifestyle community” in Manila that will include a casino complex. Megaworld is a subsidiary of Alliance Global Group, which is majority owner of Entertainment City IR Newport World Resorts.
    According to information released by the company this week, Megaworld’s latest development will be called Winford Resort. Located near the historic Chinatown on a property within the San Lazaro Tourism and Business Park, the three-hectare development will feature a mix of residential condominiums, hotels, and commercial developments with a casino complex.
    The development is expected to be completed by 2028.



    Source: https://www.asgam.com/index.php/2022/11/23/megaworld-to-develop-us262-million-township-with-casino-complex-in-manila/

  8. ResortsAhoy is offline resortX Top Investigator
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    Things are not looking good for Suntrust Resort Holdings...

    The controlling shareholder of Philippine Stock Exchange-listed Suntrust Resort Holdings, LET Group Holdings (formerly known as Suncity Group Holdings), has announced its subsidiary recorded a PHP254 million ($4.43 million) loss in the third quarter of the year.
    The group is currently developing its Westside City Project integrated resort in Manila, whose Main Hotel Casino will comprise entertainment and a five-star hotel with over 450 rooms, it’s also developing the Westside shopping mall, opera house, and 2,000-room hotel complex.
    The group notes it still ‘aims to commence the operation of the Main Hotel Casino in 2024’ and that the group’s ‘business operations have been affected minimally as its hotel and casino are still in the preliminary construction activities’.
    Source: https://agbrief.com/news/philippines/16/11/2022/let-controlled-suntrust-resort-holdings-sees-4-43mln-loss-in-q322/

  9. ResortsAhoy is offline resortX Top Investigator
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    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.”
    Source: https://www.ggrasia.com/suntrust-has-2q-loss-westside-city-2023-opening-on-track/

  10. lucy888 is offline Park Investigator
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    Aug 2022
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    Alliance Global Group is granting PHP4bn ($75m) to help fund ongoing expansion projects at Resorts World Manila.

    The expansions, being overseen by Resorts World Manila’s parent, Travellers International, will cover leisure and entertainment upgrades at the casino.

    Source: https://www.gamblinginsider.com/news/16836/asia-round-up-75m-upgrade-for-resorts-world-manila-star-vegas-reopening-more

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