Emerald Bay Resort and Casino construction hindered by coronavirus

In the Philippines and local conglomerate Udenna Corporation has reportedly announced that the opening of its coming Emerald Bay Resort and Casino has been pushed back by over a year to early-2022.

According to a report from Inside Asian Gaming, the Davao City-headquartered firm began work on the $341 million integrated casino resort through its PH Resorts Group Holdings Incorporated subsidiary in July of 2017 with the intention of being able to officially inaugurate the five-start facility sometime later this year.

Project postponed:

However, it was also reported that this timeline has been seriously delayed due to the imposition of coronavirus-related counter-measures and quarantine protocols with Udenna Corporation now not expected to begin welcoming guests to the Paul Steelman-designed property until the first quarter of 2022.

Substantial undertaking:

The finished Emerald Bay Emerald Bay Resort and Casino construction hindered by coronavirusResort and Casino is due to sit on a 13.5-acre plot of beachfront land on the central island of Mactan and feature some 838 hotel rooms as well as an 81,644 sq ft casino offering a selection of 1,186 slots and 146 gaming tables. The source detailed that the completed Philippines facility will moreover be located approximately 3.7 miles from Mactan-Cebu International Airport and come complete with 18 restaurants, 86,111 sq ft of retail space and a convention center.

Financial fallout:

Udenna used an official June 8 filing to explain that it has been endeavoring to adjust to the impacts of the ongoing coronavirus pandemic but nevertheless recorded an overall first-quarter net loss of about $2.76 million due in large part to a 54.9% year-on-year drop in operating revenues to just $189,700.

Read a statement from Udenna…

“Due to the pandemic, Udenna Corporation sees 2020 as a challenging year across all of its businesses but it has rapidly adjusted to the situation by implementing measures to ensure that its people remain safe, keep operations on a business-as-usual mode and preserve its resources.”

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