In a statement to the Philippine Stock Exchange, PH Resorts clarified an earlier InsiderPH about "unrealistic terms" set by the selling party.
The company emphasized that such assertions are "largely unfounded" and do not reflect the current discussions.
The Okada Group, a unit of Japan’s Universal Entertainment, remains in negotiations with PH Resorts Group, with the target deal closure still set for July, the firm said.
The discussions include the majority acquisition of the Mactan, Cebu integrated resort, with ongoing due diligence and nonrefundable down payments already made by Okada.
