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PAGCOR revokes PH Resorts Mactan casino license
The Philippine Amusement and Gaming Corp. (PAGCOR) has revoked the provisional license for PH Resorts Group Holdings Inc.'s Emerald Bay casino project in Mactan, Cebu.
The revocation was issued to PH Resorts' subsidiaries, Lapulapu Leisure Inc. and Lapulapu Land Corp. (LLI-LLC).
PH Resorts stated that the revocation is not expected to materially affect the company's financials as commercial operations had not yet begun.
Discussions for a partnership with EEI Corp. to complete the project are also no longer feasible following PAGCOR's decision.
PH Resorts Group Holdings Inc. will continue to explore other business opportunities.
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