September 5, 2025 | 12:00am
MANILA, Philippines — Suntrust Resort Holdings Inc., the Philippine unit of Hong Kong’s LET Group, is injecting P3.2 billion for the event of the Westside built-in resort venture in Parañaque.
In a inventory trade submitting, Suntrust stated it subscribed to 400 million widespread shares of Westside Bayshore Holding Corp.(WBHC) for P8 apiece, which encompass 40 p.c of the corporate’s complete excellent and issued widespread shares.
WBHC is a holding firm and subsidiary of Travellers Worldwide Resort Group Inc., a developer of built-in resorts and operator of gaming amenities underneath a license issued by the Philippine Amusement and Gaming Corp.
Suntrust stated the acquisition of 40-percent of the whole excellent and issued shares of WBHC is pursuant to a strategic working settlement with Travellers Worldwide, Westside Metropolis Inc. and Leisure Metropolis Resorts Corp. (ECRC) to expedite the completion of the Westside built-in resort venture in Leisure Metropolis.
Underneath the settlement, Suntrust will successfully maintain 20 p.c oblique curiosity of ECRC.
“By this acquisition, Suntrust will successfully maintain an oblique curiosity in ECRC, a subsidiary of WBHC, which assumed all rights and obligations associated to the Westside Built-in Resort Challenge to make sure its well timed building, improvement, completion and operation,” Suntrust stated.
The acquisition additionally kinds a part of Suntrust’s broader company restructuring plan, which includes shifting its strategic focus towards holding investments within the tourism and gaming sectors.
The Westside built-in resort venture is considered a world-class built-in resort consisting of five-star lodge, on line casino, mall and theater advanced envisioned to be the Broadway of the Philippines.
Based mostly on the venture implementation plan, Suntrust stated the completion and opening of the Westside Metropolis Fundamental On line casino has been moved to the third quarter of 2026, as an alternative of the earlier launch estimate of December 2025.
As of end-March, the corporate stated the development of structural works and main facade techniques as much as roof stage has been accomplished.
The mechanical, electrical and plumbing and fireplace safety techniques in main plant rooms have additionally been considerably accomplished and a part of the system has commenced testing and commissioning.
The Fundamental On line casino was beforehand focused to have 475 luxurious lodge rooms and suites, a pool deck, spa, state-of-the-art wellness heart with views of the Manila Bay sundown, a ballroom able to accommodating 550 folks with help amenities reminiscent of assembly rooms and a bridal room.
It was additionally deliberate to have a 1,000-seat and two 800-seat theaters, a grand opera home, a 3,000-seat performing arts theater and a mall composed of meals and drinks and retail items, 4 cinemas and a parking facility with over 1,000 slots.
At opening, Suntrust earlier stated that the on line casino institution would have 281 gaming tables, 1,126 slot machines and 134 digital desk video games for each the mass and VIP markets.
