The Okada Group’s Tiger Resort Leisure & Entertainment Inc. appears to be moving closer to a takeover of the stalled Cebu casino project of Davao-based tycoon Dennis Uy after hiking non-refundable down payments during the first quarter of the year.
Uy’s listed gaming firm PH Resorts Group said in its latest quarterly report that Tiger Resort made a second partial payment to subsidiary LapuLapu Leisure Inc. (LLI), raising the amount to P327.6 million from P300.1 million at the end of 2023.
Last December, PH Resorts announced the signing of a “preliminary agreement” with Tiger Resorts, involving its acquisition of a majority stake in PH Resort’s $300 million Emerald Bay casino in Mactan, Cebu.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
