BIZ BUZZ: New PH Resorts bet?
After losing its gaming assets (including a license from the Philippine Amusement & Gaming Corp.), what’s next for PH Resorts Group Holdings Inc. (PHR)?
Originally planned to be the integrated casino resort arm of Davaoeño businessman/Duterte ally Dennis Uy, PHR lost its anchor when it failed to buy back the Mactan casino property when the leaseback arrangement with Chinabank expired on March 31, 2025.
Among what’s left of its assets is an upscale resort on Panglao Island in Bohol, alongside a prime commercial property in Azuela Cove, Davao, that’s slated for a hospitality development.
But while the portfolio is now too small to excite stock pundits, it is still a publicly listed firm that can be a vehicle for enterprising parties looking for a backdoor entry into the local stock market.
We hear from reliable sources that one prospective investor or partner comes from a prominent family from Davao.
Someone from the Alcantara family is making a move following the collapse of earlier talks with several other groups.
Another source told Biz Buzz there’s indeed one “family member in early stages of exploratory talks with the group of Dennis Uy” on PHR.
“But it’s not Alcantara group or any of the companies … not Alsons Development or any of the Alsons companies,” the source added.
A few weeks ago, there was an extraordinary price movement in their holding firm, Alsons Consolidated Resources Inc.
“Not injecting corporate assets and no Alsons companies involved,” the source added, underscoring that it’s an individual family member’s own initiative.
To date, among the options lined up by PHR are: reconfiguration or repurposing of existing assets; alternative business opportunities, including joint venture projects with other entities; and initiatives such as mergers and acquisitions of other entities or assets.
That Alcantara scion, on the other hand, has already shown “earnest money”, another source said, although it remains to be seen whether a definitive agreement can be struck this time around.
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