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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. 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/

  2. 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

  3. 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/

  4. 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/

  5. 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/

  6. lucy888 is offline Park Investigator
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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

  7. Zyranas is offline Curious Chap
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    Suntrust’s Manila casino hotel is estimated to cost US$1bn and opening currently pushed again this time to March, 31, 2024.

    Although for some analytics it is still unclear how Suncity Group, a parent company of Suntrust, can meet its capital commitments, due to “Their complete business model has been smashed, and the principal is languishing in jail.” Beyond Westside City Manila, Summit Ascent has funded a US$200m expansion, delayed due to Covid, and temporarily lent US$120m to Suntrust.*

    For better or worse, gaming has many examples of companies moving ahead despite ingloriously losing top executives. Another seasoned Southeast Asia gaming executive requesting anonymity believes Suncity “has value betcause it is listed and owns significant equity stakes in casinos in very interesting markets.” That source sees a name change in the cards.

  8. ResortsAhoy is offline resortX Top Investigator
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    Suntrust Home Developers has confirmed the timeline for construction of its Westside City project, saying the main hotel is under construction and is expected to open in 2024. Suntrust is 51-percent owned by a local unit of Hong Kong-listed Suncity Holdings.

    Suntrust entered into a co-development agreement with Westside City Resorts World in October 2019 under which it agreed to finance the development and construction costs for the resort and would be appointed as the exclusive operator and manager of the operations.

    The group announced in November that it was extending the deadline for completion out to 2024, from 2023, due to the impact of Covid.

    The Westside City project will be located in Entertainment City, and will include a 5-star hotel with at least 400 rooms, a casino with 400 gaming tables and 1,200 slot machines for both mass and VIP markets, and a 960 space parking lot. It’s the first foray into the Philippines for Hong Kong-listed Suncity, which has been aggressively diversifying its business.
    Source: https://agbrief.com/news/macau/28/03/2022/suntrust-home-developers-confirms-westside-city-to-open-in-2024/

  9. mrg
    mrg is online now resortX Top Investigator
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  10. ResortsAhoy is offline resortX Top Investigator
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    Possible impact on the development of Suncity's Resort from the debts being called in relating to the arrest of Alvin Chau.

    It is unclear how such action will impact Suncity’s ongoing operations and development of integrated resorts. This three-way joint venture, which opened Hoiana in Vietnam last year, holds a majority share in Tigre de Cristal from Vladivostok Russia and is building a $1-billion integrated resort at Westside City Resorts World in Manila’s Entertainment City precinct.
    Suncity Group of Hong Kong, listed on the Hong Kong Stock Exchange, has indicated a possible change in control could be coming. The group holds interests and assets in integrated resort developments throughout Macau, Vietnam, Russia and the Philippines. However, the arrest of its former CEO, Alvin Chau, has virtually flipped the company upside down.
    Source: https://www.gamblingnews.com/news/suncity-may-see-ownership-change-as-creditors-come-calling/

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