Content Writer: Janice Chew • Friday, 25/08/2025 - 16:47:12 - PM
Suntrust Resort Holdings Inc., the gaming operator behind the $1.1 billion Westside City integrated resort in Metro Manila, has confirmed that despite an accumulated deficit of PHP 4.76 billion (approximately US$ 85.2 million) as of June 30, 2025, its financial footing remains stable. In its recent quarterly filing with the Philippine Stock Exchange, the company explicitly ruled out any material uncertainty regarding its going‑concern status, citing ongoing progress and expected future revenue once its resort is completed.
Construction on the sprawling Westside City development, also known as LETX Resorts, picked up significant momentum in the first half of 2025. Suntrust invested PHP 5.84 billion (about US$ 104.5 million) into property and equipment, pushing construction-in-progress assets to nearly PHP 40.97 billion (US$ 732.8 million). With outstanding capital commitments of approximately PHP 15.97 billion (US$ 285.7 million), the company remains well-positioned to maintain momentum toward project completion.
Despite the pressing development costs, Suntrust reassured stakeholders by highlighting secured funding. The company has lined up additional financing from both financial institutions and related parties, and believes the available funds are sufficient to carry the project through. With its main hotel-casino component now slated to open in the third quarter of 2026, management remains confident in the project’s near-term feasibility and longer-term profitability.
Suntrust’s financial profile reflects both the scale of its aspirations and the classic capital-intensive nature of integrated resort development. A debt-to-equity ratio of 5.91 underlines the project's funding structure, amplifying the importance of disciplined execution. But once operational, Westside City is expected to generate substantial cash flow from integrated gaming, hospitality, and entertainment offerings—reinforcing Suntrust’s assurance that its current losses are temporary and manageable in light of the project's future growth potential.
