The Philippines could be in line for the construction of two more casinos.
PH Resorts Group Holdings, previously known as Philippine H20 Ventures and a subsidiary of Udenna Group, has pledged to invest $1bn to build two casinos, with the first planned to be located on Mactan Island in Cebu and the other in Clark Freeport Zone.
The company is to sell P18.48bn of shares and spend in the region of $665m to complete the build of The Emerald, an integrated resort and casino on a 13.5-hectare site in Punta Engaño, Mactan Island, Cebu.
Construction on the property initially got under way in December 2017, with the casino expected to be ready to open its doors by the third quarter of 2020.
