Opening of Suncity Casino Project in Manila Postponed until 2024
Suncity Group’s subsidiary in the Philippines, Suntrust Home Developers Inc, has announced an amendment to the agreements signed with Megawide Construction Corporation that suggests the completion of the group’s integrated resort in Manila may be delayed until early 2024.
According to information provided to the Philippine Stock Exchange on Thursday, Suntrust and Megawide have agreed to amend the Letters of Award (LOA) issued in November 2020 and the Supplemental Agreement signed in December 2020, giving Megawide more time to complete its work.
The LOA gives Megawide two packages for the construction of the Suntrust Westside City Resort hotel and casino project, with package 1 including a direct contract for the pile roof, earthworks and ELS worth 2.27 billion pesos. Package 2 is the main contract for the construction site and includes the basement foundation, superstructure and ABWF (Architectural Building Works and Finishes) at a cost of 4.02 billion pesos.
The project was originally scheduled to be completed in late 2023, but Suntrust said on Thursday it had agreed to extend the completion date of package 2 to “no later than March 31, 2024, to give the parties some flexibility”.
Under the revised agreement, Suntrust will advance Megawide 700 million pesos, “a provisional amount for additional architectural, structural and construction works for Package 2”.
Once completed, the hotel and casino will comprise a 450-room hotel with a casino with 400 gaming tables and 1,200 slot machines.
