Suntrust Manila hotel-casino opening postponed to next year
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Last Updated:03 April 2024

Suntrust Manila hotel-casino

The opening date of the Suntrust Manila hotel-casino has been postponed to the first quarter of 2025. Suntrust Resort Holdings Inc disclosed this information in a filing with the Philippine Stock Exchange.

The company previously mentioned in an August construction progress update that gaming and hotel operations at the hotel-casino complex could begin in the fourth quarter of this year. However, the latest filings show that builder and renovation works, as well as exterior civil works, are underway, with management aiming to start operations of the five-star hotel and casino in the first quarter of 2025.

As of December 31, 2023, the structural work and the tower facade up to the roof have been completed, except for the facade in the middle of the "sky bridge". It is worth mentioning that the loss amount announced by Suntrust in the 2023 annual report was 337.03 million Philippine pesos (approximately US$5.98 million), which was a significant decrease compared with the loss of nearly 668.92 million Philippine pesos in 2022.

Suntrust is indirectly controlled by casino investor and Hong Kong-listed company LET Group Holdings Ltd, whose chairman is businessman Andrew Lo Kai Bong. Another company controlled by LET Group, Hong Kong-listed Summit Ascent Holdings Ltd, mentioned in a filing last September that Suntrust had begun recruiting workers to operate its hotel-casino in Westside City.

Summit Ascent operates the Crystal Tigers hotel and gaming operations in Primorsky Krai near Vladivostok in the Russian Federation. Summit Ascent and LET Group each said last week that they expected to post losses in 2023.


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