Udenna Corporation pushes back Emerald Bay Resort & Casino’s opening to early 2022
The opening of under-construction Emerald Bay Resort & Casino in the Philippines has been pushed back by more than a year to sometime in the first quarter of 2022, Conglomerate Udenna Corporation announced, citing the devastating impact of the deadly corona virus pandemic.
The Davao City-headquartered company started working on the $341 million integrated casino resort through its subsidiary known as PH Resorts Group Holdings Incorporated in the month of July in 2017. The construction work was going on smoothly as planned with the aim to officially inaugurate and open the five-start gambling and entertainment facility before the end of 2020. Hence, one can’t expect the Paul Steelman-designed property to start welcoming gaming and entertainment enthusiasts until the first quarter of 2022.
However, the outbreak of corona virus hindered the project’s development, forcing the company to push back the opening of the resort casino by more than a year to the first quarter of 2022. The company acknowledged that the postponement was caused by the imposition of COVID-19-related strict counter-measures and quarantine set of rules.
In a newly published statement, Udenna Corp. said that the year of 2020 remained a challenging year for it across its various businesses but it adjusted to the situation by implementing measures to make sure that its team members and businesses remained safe.
Announcing the delay in the opening of the facility, Udenna stated, “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.”
In its June 8th filing, Udenna revealed that it suffered an overall net loss of around $2.76 million in the first three months of the current fiscal year, largely because of a 54.9 per cent year-on-year decline in operating revenues to merely $189,700. However, the company stressed that it was making hard efforts to adjust to the impacts of the continued corona virus pandemic that has infected millions of people, and left thousands of them dead, around the globe.
Once completed, Emerald Bay Resort & Casino will span 13.5 acres of beachfront land on the Mactan Island and feature more than 800 hotel rooms, 18 restaurants, nearly 86,000 sq ft of retail space, and an 81,644 sq. ft. casino equipped with 1,186 slot machines and 146 gaming tables.
The opening of under-construction Emerald Bay Resort & Casino in the Philippines has been pushed back by more than a year to sometime in the first quarter of 2022, Conglomerate Udenna Corporation announced, citing the devastating impact of the
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