Okada Manila operator Tiger Resort, Leisure and Entertainment Inc. (TRLEI), has come to the rescue of the stalled Emerald Bay Resort, located on Mactan Island in Lapu-Lapu City in Cebu, having signed a preliminary agreement over the weekend with PH Travel and Leisure Holdings Corp. (PHT) for the purchase of certain interests in Lapulapu Leisure, owned by Davao businessman Dennis Uy.
Universal Entertainment, owner of TRLEI confirmed its subsidary would complete the partially developed integrated resort project.
Universal Entertainment stated: “The project is currently planned to be an iconic and luxurious five-star integrated resort in Cebu and the premier entertainment destination in the Philippines outside of Entertainment City in Metro Manila. The integrated resort will contain a five-star hotel adjacent to 300 meters of beachfront, with two 15-story towers accommodating 642 rooms, four pools, 18 food and beverage outlets, retail spaces, conference and exhibition facilities, and a large-scale gaming floor with more than 700 electric gaming machines and over 140 tables.”
The plan is to sign a definitive agreement between TRLEI and PHR by July 2024, with the aim of opening the Cebu resort in 2026.