Tiger Resorts, Leisure and Entertainment Inc. (TRLEI), the operator of Okada Manila, signed an agreement to acquire the development of Emerald Bay Resort from PH Travel and Leisure Holdings. As part of its broader growth strategy, TRLEI, a subsidiary of PH Resorts Group Holdings Inc., will take majority control of the partially completed Emerald Bay project in Cebu.
TRLEI and PH Travel formalized a preliminary agreement and, moving forward, both parties expect to finalize the transaction by July 2024. With this acquisition in place, TRLEI plans to resume construction, complete the resort, and officially open it by 2026.
In line with its vision for nationwide expansion, TRLEI envisions Emerald Bay Resort as a landmark five-star integrated resort in Cebu. The company aims to position it as the premier entertainment hub in the Visayas, directly competing with the luxurious resorts of Entertainment City in Metro Manila. Although Davao businessman Dennis Uy initially led the project, previous efforts to secure deals with Bloomberry Resorts Corp. and AppleOne Properties Inc. ultimately failed to push through.
Once completed, the resort will feature a five-star hotel stretching across 300 meters of beachfront, along with two 15-story towers housing 642 rooms. Additionally, it will offer four swimming pools, 18 dining outlets, premium retail zones, and extensive conference and exhibition facilities. Furthermore, TRLEI plans to build a large-scale gaming floor with over 700 electronic gaming machines and more than 140 tables—marking it as one of the largest in the region.
In 2017, PH Resorts Group secured a provisional gaming license from the Philippine Amusement and Gaming Corporation (PAGCOR) for Emerald Bay Resort. Situated on Mactan Island in Lapu-Lapu City, Cebu, the resort occupies a prime piece of beachfront property.
However, due to the impact of the COVID-19 pandemic, PH Resorts paused construction. Restrictions and financial hurdles significantly slowed progress. Now, with TRLEI stepping in, the project is expected to regain momentum and finally move toward completion.
Meanwhile, Okada Manila recently closed a contentious chapter in its corporate history. The Supreme Court lifted the Status Quo Ante Order (SQAO), which stemmed from a lawsuit filed by Kazuo Okada, the company’s former founder. As a result, TRLEI fully restored control over its leadership and operations. Consequently, the company can now concentrate on expanding its footprint in the Philippine integrated resort market.
