PH Resorts reports ₱6.75B loss amid project write-off

Davao tycoon Dennis A. Uy’s PH Resorts Group Holdings Inc. (PHR) has already written off its investments in its shelved Emerald Bay integrated casino-resort project in Mactan, which led to a P6.75-billion net loss for the first half of 2025.

- By JAMES A. LOYOLA

The firm informed the Philippine Stock Exchange (PSE) that, “The group’s option to repurchase its parcels of land and construction in progress under a sale and leaseback arrangement with Chinabank [China Banking Corp.] expired on March 31, 2025.

“In connection with this, the corresponding property plus improvements totaling 13.65 billion, as well as the financial liabilities of 8.75 billion originating from the SLBB repurchase option, were derecognized from LLI [Lapu-Lapu Leisure Inc.] and LLC’s [Lapu-Lapu Land Corp.] books.”