Bloomberry, the operator of Solaire integrated casinos that’s led by billionaire Enrique Razon Jr., and PH Resorts disclosed the full payment in separate regulatory filings.
The final amount of P76 million was returned to Bloomberry on July 15 this year, the company said in a stock exchange filing.
What happened before?
In 2022, Bloomberry signed a term sheet to invest in PH Resorts’ stalled Emerald Bay and Clark casino projects but backed out in March 2023 after due diligence.
After the termination, PH Resorts agreed to return the P1 billion deposit, which has been gradually repaid over the past two years.
Failed investor talks brought cash, but no long-term rescue yet
Over the years, PH Resorts has held talks with several potential investors, including Bloomberry Resorts, the Manigsaca family’s AppleOne Properties, and Okada Manila’s Tiger Resort Leisure & Entertainment.
PH Resorts did not walk away empty-handed even after some of these negotiations collapsed.
It pocketed a P327.6 million non-refundable payment from Tiger Resort.
EEI Corp., the latest firm to emerge as a potential white knight, also advanced P300 million to Udenna in early 2025.
PH Resorts operates a boutique resort in Bohol, but its $300-million Cebu casino project remained its most high-profile venture.
In its first-half 2025 financial filing, PH Resorts revealed it had lost control of its Cebu casino property and written off the asset, absorbing billions of pesos in losses.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
