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PH Resorts banks on alliances to pay off loans, buyback land
Manila Bulletin
|May 3, 2025
Davao tycoon Dennis A. Uy’s PH Resorts Group Holdings Inc. is relying on potential partnerships with EEI Corporation and AppleOne Group of Cebu to pay off debts, including that of its Bohol resort, and buy back land for its Mactan casino project.
In a disclosure to the Philippine Stock Exchange, PH Resorts said it is working on a possible repurchase option for the land that will house its Emerald Bay Resort in Mactan following its expiration on March 31, 2025.
On Oct. 2, 2023, PHR subsidiary Lapu-Lapu Leisure Inc. (LLI) entered into a lease agreement with China Banking Corporation to lease back the improvements in Emerald Bay and the parcels of land amounting to 12.4 hectares after both LLI and Lapu-Lapu Land Corporation (LLC) assigned all their rights over the property to the bank.
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