Negotiations between PH Resorts Group Holdings (PHR) and the Okada Group-led Tiger Resort Leisure & Entertainment Inc. (TRLEI) has been terminated, as per a letter received on July 1, 2024.
The prospective deal failure was earlier reported by InsiderPH.
PHR management’s view
“We understand that the Okada Manila operator no longer intends to pursue the Emerald Bay acquisition,” said PHR president Raymundo Martin M. Escalona in a stock exchange filing on Tuesday.
“Nevertheless, this development shall give PHR the opportunity to engage with other parties which have already expressed their keen interest in the Emerald Bay Project, but have been unable to formalize due to the restrictions under the TRLEI deal,” he added.
