PH Resorts Group Holdings Inc. recently addressed market speculation by confirming that the Philippine Amusement and Gaming Corporation (PAGCOR) has not revoked the provisional gaming license for its Emerald Bay casino project in Cebu. The company made this clarification in a formal disclosure to the Philippine Stock Exchange, directly refuting online claims that suggested otherwise.
While concerns began circulating across social media platforms and unofficial news sites, PH Resorts emphasized that the license remains intact. To provide full context, the license—issued to the group’s subsidiary, Lapulapu Leisure Inc.—allows the firm to develop and operate an integrated casino resort under certain regulatory conditions. Although PAGCOR conducted a hearing related to Emerald Bay’s compliance status, no decision has been made to cancel the license.
Moreover, PH Resorts stated that it has been actively engaging with PAGCOR and remains committed to fulfilling all regulatory requirements. The company further highlighted its continued cooperation and transparent communication with authorities as the Emerald Bay project progresses. By reinforcing this dialogue, PH Resorts aims to ensure that construction timelines and operational goals stay on track.
The Emerald Bay resort, located in Mactan, Cebu, is envisioned as a world-class beachfront gaming destination. Despite delays caused by the pandemic and financing hurdles, PH Resorts remains focused on securing new investment and finalizing partnerships to bring the development to completion.
To further assure stakeholders, PH Resorts reiterated that any major developments concerning the Emerald Bay casino license will be officially disclosed. Until then, the company urged the public and investors to rely on verified sources for accurate updates.
