PH Resorts Group Holdings Inc. is a Philippine-based company that is currently in talks with potential investors for its integrated resort project in Cebu. The company is looking to raise funds to finance the construction of the resort, which is expected to be one of the largest and most luxurious in the country.
The integrated resort project in Cebu is part of PH Resorts Group’s plan to expand its presence in the Philippine gaming industry. The company is already operating two casinos in the country, one in Cebu and another in Lapu-Lapu City. The new integrated resort project is expected to further boost the company’s revenue and strengthen its position in the market.
The integrated resort project in Cebu will feature a hotel, a casino, and various entertainment facilities. The hotel will have over 1,000 rooms and suites, while the casino will have a gaming floor of more than 7,000 square meters. The resort will also have a convention center, a retail area, and several restaurants and bars.
PH Resorts Group is currently in talks with several potential investors for the project. The company is looking to raise around $420 million to finance the construction of the resort. The funds will be used to cover the cost of land acquisition, construction, and other expenses related to the project.
The company has already secured a 12-hectare property in Mactan Island, Cebu, where the integrated resort will be built. The property is located near the Mactan-Cebu International Airport, making it easily accessible to both local and international tourists.
PH Resorts Group is confident that the integrated resort project in Cebu will be a success. The company believes that the project will attract a large number of tourists and boost the local economy. The resort is expected to create thousands of jobs and generate significant revenue for the government.
The Philippine gaming industry has been growing rapidly in recent years, thanks to the increasing number of tourists visiting the country. The government has been supportive of the industry, providing incentives and tax breaks to attract more investors. PH Resorts Group is one of the companies that have taken advantage of these incentives, expanding its operations and investing in new projects.
In conclusion, PH Resorts Group’s integrated resort project in Cebu is a significant development for the Philippine gaming industry. The project is expected to create jobs, generate revenue, and attract more tourists to the country. With ongoing talks with potential investors, the company is well on its way to making this project a reality.
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