Clark casino co. surrenders provisional license to PAGCOR; Suspends build
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PH Resorts Group Inc, in the Philippines has received permission to suspend their provisional license for The Base Integrate Resort which was scheduled to open in 2022 within the Clark Freeport Zone. The 4.4 hectare (10.87 acre) development site is situated within a 177-hectare broader development owned by the Udenna Group’s Clark Global City.
The casino resort was expected to have 400 hotel rooms, multiple restaurants, and retail space along with 100 gaming tables and 600 electronic gaming machines.
The casino operator, Clark Grand Leisure Corp (CGLC) is a local subsidiary of PH Resorts Group and they had earlier asked the Philippines gambling regulator, state-run Philippine Amusement and Gaming Corp. (PAGCOR) to grant their request for a voluntary surrender of the provisional license in response to what the operator considered ongoing lingering concerns about the local industry especially in light of increased competition in and around the Papanga location.
According to local sources, PAGCOR can lift the suspension in the future if CGLC requests such an action. The company is expected to bring their attention and resources to bear on completing Mactan’s Emerald Bay Resort and Casino in Cebu. That site is reportedly being built out in two phases. The first phase was expected to open in the first quarter of next year, but that has reportedly been pushed out to Q3, with a soft opening of the casino in March 2022.
The first phase will include 270 hotel rooms and income generators of over a hundred gaming tables and 600 slots. The second phase is planned to include an all-suites hotel with over 800 keys along with luxury villas, penthouse and royal suites, themed retail space, eateries and nightlife hotspots, as well as an activity center.
According to multiple sources, a statement from PH Resorts Group Holdings Inc. stated: “The voluntary suspension also allows PH Resorts Group Holdings Incorporated to ramp up and focus all efforts for the construction and development of its flagship integrated resort and casino project, the Emerald Bay Resort and Casino, located in Mactan,” on Cebu.
It’s unclear if the company will be required to proceed with the Clark project in order to gain a regular casino license for the Emerald Bay Resort and Casino. Provisional licenses were issued for both casinos with a regular license expected to be tendered after completion. The Clark provisional license and any replacement licenses are scheduled to expire in 2033, but may be subject to renewal conditions.
According to Inquirer.net, CGLC received one of five provisional licenses tendered by Pagcor in 2018 for integrated casino resorts in the Clark Freeport Zone. In that deal the company was required to invest at least $200 million in the Clark project with at least 40% of that being spent within the first two years.
