The Emerald Bay casino project has stalled again as Japan’s Universal Entertainment Corp. has backed out of a deal to acquire a majority stake in the project.
Japan’s Universal Entertainment Corp is the parent company of Tiger Resort Leisure & Entertainment Inc. (TRLEI), which operates Okada Manila. Okada is one of the biggest domestic casinos in the Philippines, located in the esteemed Entertainment City region.
Tycoon Dennis Uy brought the Emerald Bay casino project to fruition, but due to setbacks and other projects accruing debt, Uy was forced to seek financial assistance. Several other investors have backed out of previous deals and are seeking partial ownership of the Cebu resort.
The initial deal with Universal included a $5.2 million non-refundable payment upon completion of the deal.
Uy stated that Universal’s failed backing will open the door for other investors who have expressed interest in the project. The first phase of the opening of the Emerald Bay casino will feature 600 slot machines, 122 table games, and a 5-star hotel, setting it apart from other casinos in the region.
Cebu Casinos
There are currently two operating casinos in Cebu City: Nustar Resort & Casino and Waterfront Cebu City Hotel & Casino. The Emerald Bay casino will be the country’s first large-scale gaming and hospitality development outside of Mania.
Cebu City is in the Central Visayas region of the Philippines, 500+ miles south of Manila. The Visayas region also encompasses Bohol, Leyte, Masbate, Negros, Panay, and Samar, in addition to Cebu. The region’s population is estimated to be around 19 million inhabitants.
Online Casino Access In The Philippines
With the majority of residents unable to make a day trip to the casinos in Cebu or Manila, the popularity of online casinos has surged in recent years. Today, many of the most trusted PH online casinos accept players from around the country and offer trusted casino games with fair odds, reflecting the changing landscape of the gaming industry in the Philippines.
Popular online casino games include blackjack, slots, baccarat, roulette, video poker, keno, bingo, and more. You can even find live dealer casino games from some providers. The PH casino sites we review offer casino entertainment to anyone over 18 and will accept popular banking options such as Bitcoin, Litecoin, and Visa for deposits and withdrawals.