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SunTrust Resorts Holdings, Inc. SunTrust in its second quarter 2023 earnings report filed with the Philippine Stock Exchange on Aug. 14, claimed the Manila Project construction had reached "roof levels" since June 30 as the company behind the US$1.1 billion project in new casino and hotel projects in the Philippines. It also reaffirmed its intention to make its official debut in the casino hotel business in the fourth quarter of 2024.

The front of the podium is still incomplete:

In the above earnings report, SunTrust, known as SunTrust Home Developers Inc., said Hong Kong will be listed and responsible for developing casino & hotel projects for LET Group Holdings Ltd. and related agencies, known as Suncity Group Holdings Ltd. It added that "construction of podium facades is underway."

In addition, Suntrust said in the above report that "construction work and finishing are underway." However, last month, the company's board of directors confirmed that it received a loan of US$5 million from LET Group. In this regard, the company noted at the time that "the loan will help finance the construction of hotel casinos and projects in Westside City."

Casino and Hotel Arrangements:

The aforementioned new casino and hotel projects, which are officially part of the larger Westside City project by Westside City Resorts World Inc. and Travelers International Hotel Group Inc., will include 460 five-star rooms and casino space that the company said would "accept both the public and VIP markets" according to previously disclosed information.

Net loss for the second quarter:

SunTrust reported PHP of 164.1 million, or approximately $29 million, compared to a net loss of 255.1 million in 2022.

Information:

Suntrust Resort Holdings Inc. covers real estate development. It operates through the tourism-related businesses, property management, and rental sectors. The tourism-related business segments develop and operate major hotel casinos. The property management and rental sectors are concerned with the operation, control, and supervision of commercial, industrial, or residential properties. The Company was established and officially launched on January 18, 1956, and is headquartered in Taguig City, Philippines.

In addition, Suntrust is 51 percent owned by integrated resort operator LET Group Holdings Ltd. Given its focus on tourism development, it is expected to hire additional workers to support the development, construction, and operation of its tourism-related business.