C06662-2021 |
Title of Each Class | Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding | |
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Common shares | 7,282,017,027 |
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Subject of the Disclosure |
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Voluntary suspension of Clark Grand Leisure Corp. Provisional License |
Background/Description of the Disclosure |
On 5 October 2021, Clark Grand Leisure Corp. (“CGLC”), a subsidiary of PH Resorts Group Holdings, Inc (“PHR” or the “Company”), received approval from the Philippine Amusement and Gaming Corp (“PAGCOR”) of its request to voluntarily suspend its PAGCOR Provisional License for its integrated resort and casino project situated in Clark Global City in the Clark Freeport Zone, Pampanga (the “Project”). CGLC sought for the voluntary suspension of its license due to some lingering uncertainties surrounding the casino gaming industry especially with more competition in the Clark, Pampanga location. The voluntary suspension also allows PHR to ramp up and focus all efforts for the construction and development of its flagship integrated resort and casino project, the Emerald Bay Resort and Casino, located in Mactan, Cebu. |
Other Relevant Information |
This disclosure was amended to add a description of the impact on the business of PHR. |
Name | Leandro Abarquez |
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Designation | Corporate Secretary |