Emerald Bay investor PH Resorts signs intent deal with Japan junket operator
PH Resorts signed an intent deal with a Japanese company which focus on junket and VIP gaming services.
PH Resorts Group Holdings said in a Thursday filing that it had signed a letter of intent with an entity called ASKI Japan, regarding provision of junket gaming services to its under-construction Emerald Bay casino resort in Cebu.
ASKI Japan was described in the announcement as an affiliate of Global Mix Corp, a “provider of integrated resort consulting services in Japan”. PH Resorts is the gaming and hospitality subsidiary of Udenna Corp.
The letter was signed on Wednesday between ASKI Japan chief executive, Nobuhiro Imigi, and PH Resorts’ chief operating officer, José Angel Sueiro.
“It will form the basis for ASKI to be a potential junket operator in PH Resorts’ Emerald Bay integrated resort,” added the document.
PH Resorts said in the announcement that ASKI Japan offered “junket and VIP gaming services for Japanese players within Asia”.
Such services included “junket operations” in Paradise City at Incheon and at Paradise Casino Busan, two assets managed by Paradise Co Ltd, a casino operator in South Korea available to foreigners only.
The filing also noted that ASKI Japan offered such junket services at “two integrated resorts in Entertainment City in the Philippines”, a reference to large-scale casino complexes in Manila “under the Friday Club brand”.
Mr Sueiro was quoted in the filing as saying: “We are very excited to get ASKI as a potential partner in the junket and VIP segment of Emerald Bay.”
The COO added: “The Japanese are no strangers to the Philippines, particularly Cebu, and we believe that Emerald Bay will be a very welcome attraction to them when it opens.”
ASKI Japan CEO Mr Imigi was quoted as stating: “We want to be ready and hit the ground running when the tourism and gaming industry recovers from the pandemic.”
According to PH Resorts, “upon completion of the first phase, Emerald Bay will feature 122 gaming tables for mass, premium mass and junkets; 600 electronic gaming machines and 270 hotel room bays”.
Editing by Rachel Hu