Uy's PH Resorts seeks partners to repurchase Mactan casino land from Chinabank

Davao tycoon Dennis A. Uy's PH Resorts Group Holdings Inc. is seeking partnerships with EEI Corporation and AppleOne Group of Cebu to pay off debts and repurchase land for its Mactan casino project, but Chinabank is now considering selling the property to other interested parties.

PH Resorts aims to exercise a repurchase option for the 12.4-hectare Emerald Bay Resort in Mactan, which was leased back to Chinabank on March 31, 2025, but the bank has indicated it may sell the land due to the expiration of the leaseback agreement.

Chinabank chairman Hans T. Sy said they have given PH Resorts ample time but are now considering other options as a year and a half has already passed since the debt restructuring agreement was signed in 2023.

Udenna Corporation continues to offer financial support to PHR Group by covering loan obligations with Landbank and deferring collection of outstanding receivables for the next 12 months, though SM Prime is not interested in taking over the development due to its existing projects.