Udenna Corp.

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    PH Resorts said it has topped off two hotel towers at Emerald Bay Resort on Mactan Island and that it has also got a further funding pledge from parent company Udenna Corp through a share subscription.

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    PH Resorts Group Holdings says it is pushing to open its Emerald Bay resort in late 2021, with the full first phase offering then to be available by the second quarter of 2022. 

    Megawide drops plans for Cebu casino

    Megawide Construction Corp has dropped a plan to develop a casino on Cebu island, though will push ahead with plans for three hotels, local media reports. 

    Udenna plans to raise P18.5 billion to fund casino projects

    Philippine H2O Ventures Corp, a subsidiary of Udenna Corp, says it is planning to raise P18.5 billion in capital in order to fund its upcoming casino projects. Said projects include a $300 million casino development called Lapu-Lapu Leisure Mactan in Cebu, as well as a second casino in Clark Global City in the Clark Freeport […]

    Pagcor says license moratorium to protect industry returns

    The Philippine Amusement and Gaming Corp said the decision to put a moratorium on issuing further land-based casino licenses in the country was designed to protect investments made by existing operators.

    Udenna to shift hotel/casino assets to listed unit

    Privately owned Udenna Corp is planning to shift its hotel and casino assets into a listed unit as it pushes further into the tourism sector in the Philippines.  

    Clark developments lure IR investors

    The Philippine government has an ambitious plan to create a new green city in Clark, home to a former U.S. air force base, which it hopes will become Asia’s premier business hub. The area is already home to five operating casinos and more are planned along with developments in infrastructure, state-of-the-art MICE and office developments […]

    Udenna to spend $5b on Clark development

    The Udenna Group plans to invest ups to $5 billion over the next ten years on Clark Global City, which will include a casino and entertainment complex, local media reported Chairman and CEO Dennis Uy as saying.

    Udenna mulls IPO for Cebu project

    Udenna Corp hopes to begin construction of a resort on Cebu soon and is considering an initial public offering, or backdoor listing, to fund the project, local media reported, citing Raymundo Martin Escalona, the company’s director for special projects. “We’re waiting for the ECC (Environmental Clearance Certificate) before we can do initial excavation. We’re told […]

    Udenna to secure funding, development starts soon

    The Udenna Group, developer of the Lapu-Lapu Leisure Mactan integrated resort, is set to complete the funding requirements needed for development, Business World reports. “The debt component is given by China Bank. They are very supportive,” Dennis A. Uy said in an interview with Business World, adding that the agreement will be signed soon. In […]

    Udenna sells oil business stake to raise $80m for Mactan casino

    Udenna Group has sold a 25 percent stake in listed oil company Phoenix Petroleum Philippines to raise P4 billion (US$80 million) to help finance the development of an IR on Mactan, Cebu. In a recent filing with the Philippine Stock Exchange, Udenna said ES Group acquired 25 percent of the outstanding capital stock of the […]

    Udenna gets license to build $300 mln resort in Cebu

    Philippines’ Udenna Corp has secured a provisional license to build a US$300 million integrated resort casino in central Philippines, local media reports. The country’s gaming regulator has been inviting investors to build casino-resort projects outside the capital to accelerate growth in the gambling and tourism sectors. Udenna Corp., a holding firm owned by Dennis Uy […]