Suntrust’s Westside City Resort is now scheduled to launch in the fourth quarter of 2025.
Suntrust Resort Holdings, a Philippine-listed subsidiary of Hong Kong’s LET Group Holdings, has announced that its Westside City project is now expected to open in the fourth quarter of 2025. Initially targeted for a 2022 launch, the development—underway since 2019—has faced several delays.
Valued at $1.1 billion (£834 million/€969 million), the resort spans 31 hectares (310,000 square meters) along Manila Bay. Once completed, it will include a 475-room five-star hotel, a spa and wellness center, a ballroom for 500 guests, a 3,000-seat performance theater, and extensive meeting and convention facilities.
The casino will feature 281 gaming tables, 134 electronic gaming machines (EGMs), and over 1,100 slot machines, catering to both mass-market and VIP clientele.
IR has built-in competition
In its 2024 annual report, Suntrust outlined several risk factors that could impact the development and future success of Westside City.
These include "unfavorable economic and business conditions," "rising costs and shortages of construction materials," and possible "challenges in obtaining government approvals and licenses."
The report also emphasized that demand for luxury and gaming services is highly sensitive to global economic slowdowns, and the resort will face strong competition from established players in the same area. Westside City will be the fourth integrated resort (IR) to open in Manila’s Entertainment City, joining Okada Manila, City of Dreams Manila, and Solaire Resort.
All four resorts are located in Parañaque City, Metro Manila, just a short drive from Ninoy Aquino International Airport.
Suntrust also highlighted growing competition across Asia, as new integrated resorts with gaming components are set to launch in the United Arab Emirates by 2027 and Japan by 2030. Thailand is also exploring the possibility of legalizing casinos to boost tourism and investment.
These competitive dynamics are already impacting the local market. For instance, Melco Resorts & Entertainment is reportedly considering selling its stake in City of Dreams Manila to help finance a potential integrated resort project in Thailand.
Development work continues
Despite the numerous risk warnings, Suntrust confirmed that construction on Westside City is nearing completion.
According to the company, major structural work is largely finished. “Mechanical, electrical, plumbing, and fire protection systems in key plant rooms have been substantially completed,” Suntrust reported. “Some systems have already entered the testing and commissioning phase.”
Meanwhile, architectural finishing, interior fit-outs, and external civil works are ongoing. Landscaping has also begun on the surrounding grounds. The company reiterated its goal to launch a five-star hotel and casino in the fourth quarter of 2025.
Additionally, in a deal announced in October, Suntrust partnered with IGT in a $5.3 million agreement to supply its casino management system for the resort.
Years of financial turmoil
LET Group Holdings, formerly known as Suncity Group, has faced significant challenges in recent years. In 2023, its founder and former Macau junket mogul Alvin Chau was sentenced to 18 years in prison after being convicted of organized crime and illegal gambling. Soon after, the company rebranded from Suncity to LET—short for Leisure Entertainment Taste.
In early 2024, LET made an unsuccessful attempt to sell its interest in Tigre de Cristal, a casino resort in Russia’s Primorye region that has suffered due to the ongoing war in Ukraine. The move triggered a wave of board resignations and led to a trading halt on the Hong Kong Stock Exchange, which remains in effect. The company continues to face the risk of delisting.
LET now projects a loss of $27.71 million for 2024, a sharp reversal from its $7.5 million profit in 2023, according to Macau Business. The company attributes the decline to development expenses tied to its Manila project in Parañaque.
Still, Chairman Andrew Lo remains optimistic. “The group is firmly focused on maintaining compliance and proving its eligibility for continued listing,” he said in a recent update, adding that LET is committed to weathering current market and regulatory headwinds.
