Udenna Corp.

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    Philippine H2O Ventures Corp, a subsidiary of Udenna Corp, says it is planning to raise P18.5 billion in capital in order to fund its upcoming casino projects. Said projects include a $300 million casino development called Lapu-Lapu Leisure Mactan in Cebu, as well as a second casino in Clark Global City in the Clark Freeport […]
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    Udenna Corp hopes to begin construction of a resort on Cebu soon and is considering an initial public offering, or backdoor listing, to fund the project, local media reported, citing Raymundo Martin Escalona, the company’s director for special projects. “We’re waiting for the ECC (Environmental Clearance Certificate) before we can do initial excavation. We’re told […]

    Udenna to secure funding, development starts soon

    The Udenna Group, developer of the Lapu-Lapu Leisure Mactan integrated resort, is set to complete the funding requirements needed for development, Business World reports. “The debt component is given by China Bank. They are very supportive,” Dennis A. Uy said in an interview with Business World, adding that the agreement will be signed soon. In […]

    Udenna sells oil business stake to raise $80m for Mactan casino

    Udenna Group has sold a 25 percent stake in listed oil company Phoenix Petroleum Philippines to raise P4 billion (US$80 million) to help finance the development of an IR on Mactan, Cebu. In a recent filing with the Philippine Stock Exchange, Udenna said ES Group acquired 25 percent of the outstanding capital stock of the […]

    Udenna gets license to build $300 mln resort in Cebu

    Philippines’ Udenna Corp has secured a provisional license to build a US$300 million integrated resort casino in central Philippines, local media reports. The country’s gaming regulator has been inviting investors to build casino-resort projects outside the capital to accelerate growth in the gambling and tourism sectors. Udenna Corp., a holding firm owned by Dennis Uy […]
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