PH Resorts Group Holdings Inc., the gaming unit of businessman Dennis Uy’s Udenna Corporation, has asked the government to suspend the license of its casino project in Clark Freeport Zone, Pampanga because of stiff competition in the area.
In a disclosure to the Philippine Stock Exchange PH Resorts said its subsidiary Clark Grand Leisure Corporation (CGLC) has received approval from the Philippine Amusement and Gaming Corporation (PAGCOR) for its request to voluntarily suspend its PAGCOR Provisional License for its integrated resort and casino project situated in Clark Global City.
“CGLC sought for the voluntary suspension of its license due to some lingering uncertainties surrounding the casino gaming industry especially with more competition in the Clark, Pampanga location,” PH Resorts said.
It added that, “The voluntary suspension also allows PHR 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, Cebu.”
The voluntary suspension shall be effective until further notice and its lifting shall be subject to the approval of the PAGCOR Board of Directors.
To be called The Base, the Clark project envisioned to be a premier adventure-themed integrated resort and is still under the design and development stage.
It will be located on a 4.4 hectare property within Clark Global City, the Udenna-managed 177-hectare property in the Clark Freeport Zone.
The Base in Clark was supposed to open next year and feature 600 electronic gaming machines, 100 gaming tables, several hotels with a total of about 400 rooms, plus a retail and restaurant complex.