China Banking Corporation (ChinaBank) has officially listed the land allocated for the ambitious Emerald Bay Resort project in Cebu, Philippines, for sale — signaling a possible realignment of assets and future opportunities in the country’s booming integrated resort sector.
The land, situated along the highly coveted shores of Mactan Island, was originally designated for the Emerald Bay Integrated Resort and Casino — a project championed by PH Resorts Group Holdings, the gaming and hospitality arm of Udenna Corporation. The resort was envisioned to be a flagship destination in the Visayas region, boasting premium gaming facilities, luxury accommodations, and expansive entertainment amenities. However, the project has faced consistent hurdles, including financial constraints, regulatory delays, and shifting investor sentiments, especially in the post-pandemic recovery period.
A Response to Financial Pressures
The decision to list the property stems largely from PH Resorts Group’s ongoing debt restructuring efforts. With significant financial obligations looming, the company has been actively seeking asset divestments and strategic partnerships to shore up liquidity and streamline its business operations.
ChinaBank, as a creditor, is now offering the property to interested buyers, a move that could both alleviate outstanding liabilities and potentially attract new investors into Cebu’s vibrant tourism and gaming market.
Opportunity for New Market Players
Industry analysts note that the sale presents an attractive proposition for both local and international investors seeking a foothold in the Philippines’ robust casino and integrated resort landscape. With the country emerging as one of Asia’s fastest-growing gaming jurisdictions — thanks to liberalized regulations and a booming tourism sector — the Emerald Bay property remains a valuable asset despite its development setbacks.
Potential bidders will likely assess the site’s strategic location, existing infrastructure, and the broader growth trajectory of Philippine gaming, particularly outside Metro Manila.
