Located in Mactan, Cebu, Emerald Bay is envisaged to be the premier integrated resort in the Visayas-Mindanao region. It will have a total of 146 gaming tables and 729 electronic gaming machines (EGMs) as well as 780 hotel room bays and five villas.
In his President’s Report, Escalona said that while 2022 continued to be a challenging time for the company, there were some bright spots that PH Resorts will focus on to maintain positive momentum.
Among these were the reopening of the Donatela Resort & Sanctuary in Bohol last December as well as having advanced discussions with other parties in monetizing some assets that are currently not generating any cash flows.
Despite still posting net losses as recently as first quarter of 2023, Escalona remains hopeful for the company’s future.
“We have faced many challenges before but we will succeed — we have already seen some good indicators that make us see a positive future,” he added.
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The article was originally published in Manila Bulletin and written by James A. Loyola.
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