Udenna breaks ground for $341-M Cebu casino

MANILA, Philippines - Udenna Corp. of Davao-based businessman Dennis Uy formally broke ground on its multimillion-dollar casino project in Cebu.

Wholly owned subsidiary Udenna Development Corp. is building the $341 million Emerald Resort and Casino, which will rise on a 12.5-hectare prime beachfront property in Mactan Island in Lapu-Lapu City.

 Construction is targeted to start soon, Uy said on the sidelines of Chelsea Logistics Corp,’s listing Tuesday.

The project, which will be completed in three years, is set to make the Philippines at par with other premier regional destinations designed for leisure, gaming, MICE (meetings, incentives, conventions and exhibitions) and other commercial and residential investments.

“This is our way of increasing tourism in the country,” Uy said.

He believes “the project would play a vital role in transforming Mactan into a premiere tourist destination with a vibrant and thriving economy.”

“This is not only about The Emerald. It is about all of us. We break ground for thousands of jobs that will provide countless opportunities and brighter future for local businesses and entrepreneurs.  It is also about showing the best of what Filipino talent and hospitality has to offer,” Uy said during the groundbreaking ceremony.

 Pagcor chairman Andrea Domingo said The Emerald is the very first integrated resort that the new board has approved.

“We hope that in two or three years’ time, we will be here again to witness the opening of this project. We hope that this will be a precedent for all integrated resorts that will be built outside of Entertainment City in Manila…because in Cebu City, there will be a world-class resort casino that is worth taking a look,” she said.

The Emerald is designed by architect Paul Steelman, designer of The Mirage Hotel and Casino in Las Vegas and The Sands in Macau.