Content Writer: Janice Chew • Friday, 25/09/2025 - 00:34:16 - AM
Suntrust Resort Holdings Inc. completed a US$56 million cash subscription for 400 million common shares—equivalent to a 40% ownership—in Westside Bayshore Holding Corp. (WBHC). The move is part of a broader strategic alliance with Travellers International Hotel Group Inc., Westside City Inc., and Entertainment City Resorts Corp., aimed at expediting the completion of the “now-expanded” Westside integrated resort at Entertainment City in Parañaque, Metro Manila.
Through this stake acquisition, Suntrust now holds an indirect 20% interest in Entertainment City Resorts Corp., the WBHC subsidiary overseeing all development, construction, and operational facets of the Westside project. This aligns with their broader corporate restructuring strategy, pivoting toward investments in tourism and gaming sectors.
The LETX Resort is a landmark investment—estimated at around US$1.25 billion. The facility is set to feature over 300 gaming tables, 1,300 electronic gaming machines, a five-star hotel with 450+ rooms and suites, plus a mall, F&B outlets, and ample parking. However, the latest filings confirm further delays: the resort is now slated for opening in the third quarter of 2026, pushing back from the earlier estimate of late 2025.
Despite its financial challenges—Suntrust recorded a PHP4.76 billion (~US$85 million) deficit as of June 30, 2025—the company reaffirmed there is no “material uncertainty” regarding its operations. This capital infusion reflects both a tactical and symbolic commitment to delivering on the resort’s promise.