Home News Hub Casino Suntrust Secures US$38M Loan for Westside Casino

Suntrust Secures US$38M Loan for Westside Casino

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Suntrust Resort Holdings Inc., the Philippines-listed developer of the hotel casino under construction at Westside City in Manila, announced during its Friday board meeting that it agreed to a US$38-million loan from LET Group Holdings Ltd. The company disclosed in a Monday filing that it will use the loan proceeds to fund project costs and build the main hotel casino. LET Group requires Suntrust to repay the loan within 10 years of execution.

LET Group indirectly controls Suntrust, which plans to open its casino hotel in the first quarter of 2025, according to a recent announcement. The company assured stakeholders that the loan agreement will not harm its business, operations, or financial condition. Instead, it expects the loan to benefit the company.

Meanwhile, another LET Group-controlled firm, Hong Kong-listed Summit Ascent Holdings Ltd, operates the Tigre de Cristal casino resort in Primorye near Vladivostok, Russia.

Westside City will become the next integrated resort to open in Entertainment City, and the market awaits news on whether it will offer online gaming alongside its land-based casino.

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