Listed Suntrust Resort Holdings Inc. is set to receive a $17-million loan from its parent company to fund the construction of a new integrated casino in Entertainment City along Manila Bay ahead of its expected opening in the first quarter of 2025.
In a stock exchange filing on Thursday, Suntrust revealed that its board has approved a loan agreement with LET Group Holdings Ltd.
The loan, to be repaid over 10 years, follows a $38-million loan from LET Group in April, intended to help complete the Westside City Hotel project.
The $1-billion casino hotel will join the ranks of Entertainment City’s top facilities, alongside Solaire Resort and Casino, City of Dreams Manila, and Okada Manila.
The project will feature 475 luxury rooms, 1,000-seat and 800-seat theaters, 1,126 slot machines, 281 gaming tables, and 134 electronic table games.
