Razon's Bloomberry to invest in Dennis Uy's PH Resorts group projects

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<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Emerald Bay under construction as of September 2020/ Handout" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2022/business/05/11/emerald-bay.jpg"/><figcaption>Emerald Bay under construction as of September 2020/ Handout</figcaption></figure></div><p><br/>MANILA - Dennis Uy&#x27;s PH Resorts Group Holdings Inc on Wednesday said its subsidiary has signed a deal with Enrique Razon&#x27;s Bloomberry Resorts Corp for a proposed investment in the company&#x27;s Cebu and Clark developments.</p><p>PH Travel and Leisure Holdings Corp signed a Term Sheet with Bloomberry Resorts for the latter&#x27;s proposed investment in Lapulapu Leisure Inc which is developing the Emerald Bay Resort Hotel and Casino in Punta Engano, Lapu-Lapu City, Cebu, and into Clark Grand Leisure Corp, which is developing the Base Resort and Casino in Clark Pampanga, PH Resort Group told the stock exchange.</p><p>PH Resort Group is the leisure and gaming arm of Uy&#x27;s Udenna Corp.</p><p>Emerald Bay was supposed to be the group&#x27;s flagship integrated casino beachfront resort in Mactan Cebu. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/10/19/20/dennis-uys-ph-resorts-group-sets-final-price-for-follow-on-offer-at-p168">Dennis Uy&#x27;s PH Resorts Group sets final price for follow-on offer at P1.68</a></li>	<li><a href="https://news.abs-cbn.com/video/business/10/16/20/ph-resorts-group-remains-confident-in-gaming-hospitality-industry">PH Resorts Group remains &#x27;confident&#x27; in gaming, hospitality industry</a></li></ul><p>In a separate disclosure to the stock exchange, Bloomberry Resorts said the Term Sheet was signed on May 6.</p><p>&quot;Certain terms and conditions of the transaction, including the method of payment and timing of closing, are still to be finalized,&quot; Bloomberry said.</p><p>No amount was disclosed by either party. </p><p>Bloomberry&#x27;s subsidiaries operate Solaire Resort and Casino and Jeju Sun Hotel and Casino. </p><p>Davao-based Uy meanwhile, engaged in aggressive business expansion in the last 6 years during President Rodrigo Duterte&#x27;s administration.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/05/10/21/bloomberry-resorts-solaire-gaming-net-loss-p7808-million-enrique-razon">Bloomberry Resorts posts net loss of P780.8M in Q1; fortifies protocols ahead of restart</a></li>	<li><a href="https://news.abs-cbn.com/business/11/08/18/petrol-cakes-and-telecoms-dennis-uys-business-expansion-continues">Petrol, cakes and telecoms: Dennis Uy&#x27;s business expansion continues</a></li>	<li><a href="https://news.abs-cbn.com/business/07/11/17/philippines-new-tycoon-rises-from-dutertes-davao">Philippines&#x27; new tycoon rises from Duterte&#x27;s Davao</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1681640" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

PH Resorts Group Holdings Inc said its subsidiary signed a deal with Enrique Razon's Bloomberry Resorts Corp for a proposed investment in its Cebu and Clark projects.

Razon's Bloomberry to invest in Dennis Uy's PH Resorts group projects | ABS-CBN

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Razon's Bloomberry to invest in Dennis Uy's PH Resorts group projects

Razon's Bloomberry to invest in Dennis Uy's PH Resorts group projects

ABS-CBN News

Published May 11, 2022 12:59 PM PHT

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Bloomberry Resorts Corp

PH Resorts Group Holdings Inc

Enrique Razon

Dennis Uy

Cebu

Clark

leisure

gaming

resort

beachfront

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