Suntrust Resort Holdings Inc. announced on Monday the acquisition of an indirect 20 percent ownership stake in Entertainment City Resorts Corp. (ECRC) as part of a collaboration aimed at accelerating the development of the Westside Integrated Resort Project in Parañaque City.
In a regulatory disclosure, Suntrust said the move is aligned with its working agreement with Travellers International Hotel Group Inc., Westside City Inc., Westside Bayshore Holdings Corp., and ECRC — all linked to tycoon Andrew Tan’s Alliance Global Group.
“The agreement is intended to expedite the completion of the now-expanded Westside Integrated Resort Project,” Suntrust said, noting that ECRC will take over all rights and obligations related to the massive development.
Located within Entertainment City, the 31-hectare Westside Integrated Resort Project is envisioned as a world-class destination combining luxury hospitality, gaming, entertainment, and retail. The complex will feature a five-star hotel, casino, mall, and a suite of performing arts venues — including the Grand Opera House and the Apollo, Bohemia, and Crown theaters. These venues will highlight Philippine performing arts and are positioned to establish the resort as the “Broadway of the Philippines.”
The strategic stake is expected to enhance coordination among stakeholders and ensure timely delivery of the high-profile integrated resort.
