CEBU CITY – Investors have maintained a bullish outlook on the country’s tourism industry as recovery growth is underway post-pandemic, according to gaming veteran Jose Angel Sueiro.
Sueiro, also the COO of PH Resorts Group Holdings, gave this positive outlook on tourism as their company is keen on the future completion of the Emerald Bay Resort and Casino in Mactan.
“Despite continuing fears about Covid-19 and with the Delta variant reaching our shores, we are very happy that there are investors that continue to remain bullish on the prospects of the country’s tourism and gaming industry,” he said.
This upbeat investor sentiment was shown during the company’s top-up placement where it raised about P600 million from a select group of qualified buyers.
Sueiro said they believe that with more of the population vaccinated in the coming months, there will be a resumption of both international and local flights, spurring a recovery in tourism in the Philippines and the region.
He said Emerald Bay, which is scheduled to open by the third quarter of next year, will feature 122 gaming tables for mass, premium mass and junkets; 600 electronic gaming machines; and 270 hotel room bays. PH Resorts had done a top-up placement to raise funds for the Cebu casino project, Sueiro added. (Carlo Lorenciana)
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